The invention discloses a preparation method of testosterone propionate, which belongs to the technical field of preparation and processing of medicines. In the method, testosterone is used as a raw material, and through the catalysis of a catalyst, an organic base is used as an acid-binding agent to undergo esterification reaction with propionic anhydride to obtain testosterone propionate. The method of the present invention avoids the use of expensive and highly toxic acid chlorides, and the solvent used is water-insoluble, so after the reaction is completed, the product can be directly layered and extracted without adding water to separate out the product, reducing the consumption of water, and the solvent can be Recycling and reuse makes the whole process more environmentally friendly; the reaction product of the invention has high purity, easy purification, product quality and yield higher than 110%, is suitable for industrialized large-scale production, and has good economic benefits.