The invention discloses a preparation method of lambda-cyhalothrin. The preparation method of the lambda-cyhalothrin comprises the steps that 3-(2,2-dichloroethenyl)-2,2-dimethylcyclopropanecarboxylic acid serves as an initial raw material, DMF serves as a catalyst, n-hexane serves as solvent, an n-hexane solution of 3-(2,2-Dichlorovinyl)-2,2-dimethylcyclopropanecarbonyl chloride is obtained, a reaction among the n-hexane solution of the 3-(2,2-Dichlorovinyl)-2,2-dimethylcyclopropanecarbonyl chloride, 3-phenoxy-4-fluoro-benzaldehyde and sodium cyanide is carried out, methyl trioctyl ammonium chloride serves as a catalyst, a condensation reaction is carried out to obtain a cyhalothrin condensation compound, washing and desalting are carried out on the cyhalothrin condensation compound to obtain a cyhalothrin n-hexane solution, a composite catalyst is directly added to the cyhalothrin n-hexane solution, and an epimerization reaction is carried out to obtain the lambda-cyhalothrin. Compared with the prior art, the technological process is simple, the solvent does not need to be replaced in the process of preparation, the situation that isopropanol is used for carrying out working procedures such as rectification and dewatering is avoided, and the same solvent is adopted; due to the fact that the composite catalyst is adopted, the rate of the epimerization reaction is improved, and due to the facts that the n-hexane serves as epimerization solvent, and the isopropanol is not adopted, the working procedure of distillation recycling of the isopropanol and the working procedure of dewatering of the isopropanol are omitted, material loss is reduced, production cost is reduced, industrial production can be easily carried out, and popularization prospect and application prospect are wide.