The invention relates to a surface acoustic wave (Surface Acoustic Wave, SAW) device on the basis of a flexible substrate and a preparation method thereof. The SAW device comprises a substrate, a bottom electrode layer, a piezoelectric layer and a top electrode layer. A working area is formed by the bottom electrode layer, the piezoelectric layer and the top electrode layer. The SAW device is characterized in that the flexible substrate is arranged below the bottom electrode layer; and the flexible substrate is provided with an opening. The SAW device and the preparation method thereof have the characteristics that 1, due to the adoption of the flexible substrate, the obtained device is light, can be mounted on a curved surface, can be continuously produced in a roll-to-roll mode, and has simple manufacturing process and low cost; and 2, the flexible substrate is subjected to reverse side body deep etching to form the opening so that sound waves are spread in the piezoelectric layer in a plate wave mode, a high resonant frequency can be obtained, and meanwhile, the energy of the sound waves is limited in the working area so that a high device Q value can be obtained. Moreover, when a plate wave mode resonator is applied to a liquid sensor, the Q value cannot be reduced due to the radiation of the energy into the liquid.