The invention discloses a method for preparing a sulodexide raw material from a heparin byproduct by adopting an ethanol precipitation process. The method comprises the following steps: dissolving the heparin byproduct, adjusting a liquid to have a high pH value by sodium hydroxide, performing low-temperature precipitation by a proper amount of ethanol, and removing precipitate to obtain a sulphated polysaccharide liquid; adjusting the sulphated polysaccharide liquid to have a low pH value by hydrochloric acid, performing low-temperature precipitation by a proper amount of ethanol, and removing precipitate to obtain a sulphated polysaccharide liquid; and adjusting the liquid to be neutral by sodium hydroxide, performing room-temperature precipitation by a proper amount of ethanol, and drying precipitate to obtain the sulodexide raw material. The method is simple in process, low in cost, easy to realize and suitable for industrialized production.