The invention discloses a formula of modified polyurethane. The formula comprises, by weight, 50 to 60 parts of iron tailings, 3 to 4 parts of sodium carbonate, 5 to 6 parts of calcium oxide, 2 to 3 parts of borax, 30 to 40 parts of quartz sand and 8 to 9 parts of alumina. A preparation method of the modified polyurethane comprises putting raw materials prepared according to the formula into a planetary ball mill, carrying out ball milling mixing for 1.5h, putting the mixture into a corundum crucible, heating the mixture to 1450-1500 DEG C in a muffle furnace at a heating rate of 5-6 DEG C/min, keeping the temperature of 1450-1500 DEG C for 3-4h, pouring a part of molten glass into water, carrying out water quenching, putting the other part of the molten glass into a mold preheated to 600DEG C, after molding and releasing, fast putting the model into the muffle furnace, carrying out annealing at 600 DEG C for 5h, grinding the glass subjected to water quenching to obtain powder of 74 microns, measuring a DSC curve through a thermal gravimetric analyzer, increasing the room temperature to 1000 DEG C, determining an endothermic valley and an exothermic peak, wherein the endothermic valley represents a glass transition temperature and the exothermic peak represents a crystallization temperature, determining the optimum nucleation temperature and the crystallization temperature ofthe microcrystalline glass according to the DSC curve and carrying out crystallization and nucleation.