The invention discloses water-in-oil baby nappy cream which comprises deionized water, glycerin, maleic acid diethyl hexyl acetate, zinc oxide, butanediol, margarine fruit tree butter, 1, 2-pentanediol, tridecyl trimellitate, polydimethylsiloxane, cetyl PEG / PPG-10 / 1 polydimethylsiloxane, sodium lactate, C18-38 alcohol hydroxyl stearoyl stearate, sorbitan sesquioleate, prinsepia utilis seed oil, bisabolol, ginger root extracts, purslane extracts, sodium hyaluronate extracts, sodium hyaluronate, allantoin, tocopheryl acetate, polyhydroxystearic acid, dimethiconol, magnesium sulfate and EDTA (ethylene diamine tetraacetic acid) disodium. The water-in-oil baby nappy cream solves the problems of low-temperature precipitation of water-in-oil cream and difficulty in adding high-content zinc oxide into a cream system, stability of the cream is improved, and baby nappy rash is safely treated. The invention further discloses a preparation method of the water-in-oil baby nappy cream.