The invention provides a medical hydrocolloid pressure-sensitive adhesive and a preparation method thereof. The pressure-sensitive adhesive is prepared from styrene-isoprene-styrene block copolymer, ester gum, acetate starch, copal, sodium alginate, sodium carboxymethyl cellulose, phthalate, polyisobutylene, an antioxidant, an auxiliary antioxidant, ammonium persulfate, diethylene glycol vinyl ether, polytrimethyldihydroquinoline and naphthenic oil. The preparation method comprises the following steps: adding the styrene-isoprene-styrene block copolymer, acetate starch, copal, antioxidant and auxiliary antioxidant into a rheometer, and compounding; adding the ester gum, phthalate, polyisobutylene, ammonium persulfate, diethylene glycol vinyl ether and naphthenic oil into the rubber mixture, and compounding; and finally, adding the rest of components into the hot-melt pressure-sensitive adhesive, and compounding to obtain the hydrocolloid pressure-sensitive adhesive. The pressure-sensitive adhesive can be easily peeled from the skin surface, and has the advantages of high water absorptivity and high controllability on water-absorbing capacity when in use.