The invention relates to a sulfamate water reducing agent preparation method, which comprises: mixing phenol, alkylphenol polyoxyethylene ether, sodium para-aminobenzenesulfonate and deionized water to obtain a mixing liquid; heating the mixing liquid, adjusting the pH value of the mixing liquid to a first preset pH value, adding formaldehyde, and carrying out a hydroxymethylation reaction to obtain a first reaction liquid; carrying out a constant temperature condensation reaction on the first reaction liquid under a preset condensation temperature condition to obtain a second reaction liquid;and at a preset rearrangement temperature, adding urea to the second reaction liquid, adjusting the pH value to a second preset pH value, and carrying out a molecular rearrangement reaction to obtainthe sulfamate water reducing agent. According to the present invention, the obtained sulfamate water reducing agent has different side chains with different lengths, wherein the side chains comprisealkyl, hydroxymethyl, sodium para-aminobenzenesulfonate, phenol, urea and other groups, even the polymerization products of the groups, such that the segregation bleeding problem can be reduced, and the water reducing ability can be improved.