The invention discloses ultra-light clay used for toys, which includes: 65% of glue, 2% of a powder, 6% of sorbitol, 3% of glycerin, 3% of bronopol, 2% of Casson, 1.5% of essences, 2% of borax, 9% ofwater, 4% of boric acid, and 2.5% of color slurry. A preparation method includes the steps of: 1) preparing a binder: performing carbon adsorption, filtration and ultraviolet lamp sterilization to water, pouring the water into a reaction kettle, stirring the water and slowly adding the glue, continuously stirring the mixture for 20-35 min and heating the mixture, and when the temperature of the glue reaches 100 DEG C, maintaining the temperature for 85-95 min; 2) pouring the binder, being cooled to room temperature, into a kneading machine and stirring the binder for 8-12 min, slowly adding the powder, sorbitol, glycerin, bronopol, Casson, essences, borax, boric acid, water and color slurry, stirring the mixture for 8-12 min and cooling the mixture; 3) stirring the mixture in the kneadingmachine for 15-20 min, and discharging the product through a discharge hole of the kneading machine. The ultra-light clay has simple structure and is environment-friendly and toxic-free.