The invention relates to a color-changeable simulated charcoal and the preparation method thereof. The color-changeable simulated charcoal comprises simulated charcoal, and is characterized in that the simulated charcoal comprises a paint layer spray-painted on the outer surface of the simulated charcoal and a coating coated on the outer surface of the paint layer. The paint layer is mainly prepared from a BN04-1 acrylic acid automobile coating varnish intermediate product, an H-11 automobile finish curing agent and butyl acetate, and temperature-sensitive decoloring powder is added. The coating is mainly prepared from light calcium carbonate powder, a BN04-1 acrylic acid automobile coating varnish intermediate product and butyl acetate, and golden yellow temperature-sensitive decoloring powder and bright red temperature-sensitive decoloring powder are added. The paint layer and the coating can correspondingly change the own color along with the temperature variation during the process of combustion, and have the same color varying effect as the actual combusting charcoal.