The invention provides an expanded flexible well cementing grout and a preparation method thereof. The grout comprises the following components in parts by weight: 100 parts of cement, 6-14 parts of toughening material, 3-80 parts of reinforcing material, 8-120 parts of density modifier, 0.5-2.5 parts of suspension stabilizer, 20-40 parts of high-temperature stabilizer, 35-100 parts of distilled water, 0.5-2 parts of dispersant, 0.5-4 parts of fluid loss agent, 0.3-4 parts of retarder, 0.1-2 parts of foam inhibitor and 0.1-2 parts of defoamer. The invention further provides a preparation method of the expanded flexible well cementing grout. The grout has good sedimentation stability; and the set cement has the characteristics of micro expansion, high strength and low elasticity modulus, and can avoid the phenomena of micro cracks, micro annuluses, even fracture and the like caused by cement sheaths in subsequent operation of gas storage wells, shale gas wells, dense oil-gas horizontal wells and the like, thus realizing good zonal isolation and providing a technical support for long-term, safe and effective operation of oil-gas wells.