The invention relates to the water treatment technical field, in particular to a preparing method and application of an ultra light water, wherein sulfureted hydrogen two-temperature exchange method or other alternative methods are adopted to produce ultra light water; sulfureted hydrogen two-temperature exchange method realizes separation of hydrogen isotopes through adopting multistage concatenation of cooling tower and thermal tower by use of isotope exchange reaction between sulfureted hydrogen and water; liquid raw material water enters from the top of the cooling tower and flows through the cooling tower and the thermal tower from above to below, while gas material sulfureted hydrogen is added from the part between the cooling tower and the thermal tower and circulates inside the cooling tower and the thermal tower from bottom to top inside; heavy components inside the cooling tower is transferred towards liquid phase through chemical exchange so as to be concentrated inside the liquid phase; liquid material with concentrated the heavy components completes chemical exchange with ascending gas during flowing through the thermal tower, thereby, the heavy components are transferred towards gas phase; finally, finished product with lower content of heavy hydrogen can be obtained after liquid phase material discharged from the thermal tower enters into a degassing column to removing sulfureted hydrogen. The invention has the health effects such as delaying aging, radiation resisting, resisting cell mutation, activating immunocyte, improving basal metabolism level of human body, improving sleep, enhancing physical function of male, beauty and body slimming.