The invention relates to a special prawn-flavored essence for bait containing a sea algae extract and a preparation method of the prawn-flavored essence. The prawn-flavored essence is prepared from the sea algae extract, 1,2-propylene glycol and a prawn-flavored essence base material, wherein the prawn-flavored essence base material is mainly prepared from maltol, trimethylamine, phenylethylamine,dimethyl sulfide, butyric acid, benzyl alcohol, octanoic acid, 1-amylene-3-alcohol, acetic acid, dimethyl disulfide, 2,6-lutidine, ethyl maltol and the like. The essence has the advantages that the original fishy smell, grass smell and salty smell of the sea algae extract are utilized to be combined with the prawn-flavored essence base material, so that the fishy smell of the prawn-flavored essence is obvious, wherein the top note is explosive, the body note has obvious prawn flavor characteristics, the basic note is thick, and the smell is lasting; the essence uses the sea algae extract prepared from low-value sea algae to improve the fishy smell, smell sustaining and natural feeling of the essence, is conveniently used in the bait, achieves the effect of improving the scent and the fishy smell, and can improve the allure of the bait to fish to obtain the praise of bait customers.