The invention discloses a preparation method of high-purity rice protein. The preparation method takes rice residues as a raw material, utilizes trypsin for hydrolysis, and has degradation and modification effects on highly denatured rice residue protein by combining high pressure homogenization, an ultrasonic processing technology and a refining process, so that the dissolution rate and the extraction rate of the rice residue protein are greatly improved, most denatured protein is changed into soluble peptides to be extracted, and meanwhile, the solubility and the foamability of the rice protein are improved. The procedures of water desugaring, saponification degreasing, high pressure homogenization, ultrasonic processing, enzymatic hydrolysis and active carbon decoloring are combined for extracting the rice protein in the rice residues, the protein recovery rate is greater than 75%, the protein content is more than 90%, the fat content is less than 1%, the total sugar content is below 4%, the ash content is less than 2%, and thus the comprehensive utilization value of the rice residues is greatly improved.