The invention discloses a hydroborate hydrolysis catalyst for preparing hydrogen and its preparation method, belonging to the technical field of hydrogen production and energy sources. The chemical composition of the catalyst is represented as MxB, wherein, M represents one or more of Fe, Ti, Cu, Zn, Al, Zr, Nd, Mo, V, Cr, Co, Ni, Ag or Mg, x is no less than 1 and no larger than 4 and can be a non-integer. The catalyst comprises a monodispersed boride material, and the catalyst has high specific surface area, uniform particle size distribution, and high catalytic activity, and the dehydrogenation rate can reach more than 95 %. The invention also discloses a preparation method of the catalyst, characterized by carrying out solution chemical reaction and vacuum freeze treatment at low temperature to obtain a predecessor, then carrying out heat treatment to obtain the catalyst. The preparation method has the advantages of rapid early-stage reaction, simple and convenient post-treatment and strong operability.