The invention discloses a method of preparing microfibrillated cellulose from bamboo parenchyma cells, which comprises following steps: (1) separation of the bamboo parenchyma cells: performing chemical separation or drying and crushing process to raw materials, sieving the treated raw materials through a 20-mesh sieve screen to obtain the parenchyma cells; (2) chemical pre-treatment: adding the parenchyma cells to a phenethyl alcohol solution for extraction, adding a 1-3% sodium chlorite solution for treating the parenchyma cells for one hour, and adding the parenchyma cells in an alkaline solution for treating the parenchyma cells for two hours, treating the parenchyma cells in a diluted hydrochloric acid solution for two hours, and finally washing the parenchyma cells with deionized water to neutralization; and (3) dispersing the treated parenchyma cells in deionized water to form a 1% suspension liquid, and performing high-frequency ultrasonic treatment or high-pressure homogenizing treatment. According to the method, the bamboo parenchyma cells are separated through the sieving process in early stage to prepare the microfibrillated cellulose. The raw materials are wide in sources and are low in cost. The method is simple and easy to carry out, is high in production efficiency, can reach 90% in yield and can basically achieve all-conversion of the raw materials.