The invention provides recyclable wastewater delead materials prepared by desulfurized ash slag and a preparation method, belonging to recyclable wastewater delead ecology environment materials. The invention solves the technical problems of the unreasonable use of the desulfurized ash slag, incomplete lead ion in the wastewater, high cost, complex technical flow, and the like, in the prior art. The method comprises the steps of: completely using abundant calcium resources in the desulfurized ash slag; evenly mixing the desulfurized ash slag with cement according to proper proportion; shaping; and maintaining, fixing and activating into the wastewater delead materials in a baking-free way. The invention has simple product prescription and technology, low cost, strong delead capability and high product intensity, is recyclable, solves the technical difficulty in restricting the recycle of the delead materials, and has strong market competitive capacity and wide popularization and application value.