The invention relates to a fish paste and a preparation method. The fish paste is characterized by comprising main raw materials and auxiliary raw materials, wherein the main raw materials comprise fish filet, lard oil, corn starch, fresh eggs and water, and the auxiliary raw materials comprise refined salt, a natural aromatic condiment, sodium glutamine, sorbitol and vegetable protein. The fish paste is prepared by the special processes of stewing, sterilizing and caking. The fish paste has the characteristics of high protein content, low fat content, long retention period, delicate quality, smooth and soft mouth feel, good toughness after being sliced into a flaky shape and convenient eating, can be preserved for 5 months at ordinary temperature, can be eaten in a cooking way, a swilling way, a stewing way, a cold way or a hot way and is a delicious food which is suitable for all the people, and the quality of the fish paste can be preserved for 4 months at ordinary temperature.