The invention provides a preparation method of a municipal sewage treating agent.The method comprises the steps of firstly, picking dry straw, pulverizing the straw, adding a solution of sodium cyanoborohydride, ammonium ceric nitrate and gelatin, mixing the materials to be uniform, raising the temperature, then adding poly(ethyl acrylate), polyacrylonitrile and glutaraldehyde, raising the temperature, lowering the temperature, and conducting filtering, so that solid matter is obtained; then adding etidronic acid and polyhydric alcohol phosphate ester to water, conducting stirring, adding isothiazolinone, sepiolite, starch xanthate, magnesium sulfate heptahydrate, chitosan, N, N-dimethyl methylene diphosphonic acid, lecithin and lignin, and mixing the materials to be uniform, so that a mixture (I) is obtained; finally, adding a sodium hydroxide solution to the mixture (I) to adjust pH to 6.0-7.0, adding organic acid and the obtained solid matter, mixing the materials to be uniform, and then leaving the mixture standing still, so that the municipal sewage treating agent is obtained.By means of the municipal sewage treating agent, the chemical oxygen demand of sewage can be lowered to 63 mg/L, the biochemical oxygen demand can be lowered to 28 mg/L, suspended solids can be decreased to 35 mg/L, and total phosphorus can be decreased to 0.37 mg/L.