Disclosed is sesame sauce having coconut milk flavor and a preparation method thereof. The sesame sauce is characterized of being prepared from raw materials which comprises, by weight, 90-100 parts of black sesame, 2-3 parts of licorice, 1-2 parts of villous amomum fruit, 4-5 parts of loquat leaf, 2.5-4 parts of sweet potato leaf, 1-2 parts of vaccinium bracteatum, 0.9-1 parts of gentiana tsinglingensis diels, 2-3 parts of donkey-hide gelatin, 8-10 parts of white vinegar, 2-3 parts of lactarius deliciosus, 7-8 parts of coconut milk, 30-33 parts of sweet rice flour, 2-3 parts of sesame oil, 4-5 parts of fermented soya bean, 6-7 parts of hazel nut, 12-13 parts of water chestnut, 25-30 parts of sweet potato, 500-550 parts of soybean paste and 5-6 parts of nutrition additive. The sesame sauce is simple in preparation method and reasonable and scientific in formula. The added hazel nut is rich in protein, vitamin, and trace elements such as calcium and iron and the like, and has effects of tonifying spleen and stomach, boosting qi and power and improving eyesight; meanwhile, the added water chestnut and the sweet potato enables the sesame sauce to be more tasty and sweet; furthermore, with addition of various Chinese herbal medicines to the sesame sauce, the sesame sauce has effects of tonifying spleen and boosting qi, nourishing liver and kidney and boosting intestines and stomach.