The invention discloses a shrimp meat quality improver, which comprises transglutaminase, an alkaline solution, table salt and amino acid, wherein the enzyme activity of the transglutaminase is 100 international units per gram, and the content of the transglutaminase is 0.03 to 0.15 percent; the alkaline solution is a mixture of any two or more sodium hydrogen carbonate, sodium citrate, potassium chloride, potassium gluconate, sodium carbonate, sodium phosphate and potassium phosphate, and the content of the alkaline solution is 3 to 20 percent; the content of the table salt is 1 to 3 percent; and the amino acid is a mixture of one or more serine, arginine and glycine, and the content of the amino acid is 0.1 to 0.8 percent. The invention also discloses a preparation method and application of the shrimp meat quality improver. The shrimp meat quality improver can effectively improve the elasticity, chewiness, flavor, mouthfeel and the like in various aspects of the shrimp meat.