The invention discloses a method for preparing 4, 4'-diamido stilbene-2, 2'-disulfonic acid. The method comprises the following steps of: using the 4, 4'-dinitro stilbene-2, 2'-disulfonic acid (DNS) as a raw material, using water as a solvent, in the presence of an iron oxide catalyst, reducing with ferrous iron, wherein the reaction conditions are as follows: the mass concentration of the raw material in the water is 1%-15%, the reduction temperature is 25-80 DEG C, the pH value is 6.0-9.0, and the dosage of the catalyst is 0.5-5.0g / l. In the method, the cheap ferrite or ferrous pickling waste liquor as the reducing agent, the ferrous iron is oxidized and further hydrolyzed to generate iron oxide, and the iron oxide can be sold as a product, so that the method is environment-friendly. In the method, the technology is simple, the reaction conditions are mild, the catalyst is high in activity and strong in selectivity, and the production cost is lowered.