The invention relates to a method of conducting wall breaking and deodorization to spirulina through conjointly applying a lysozyme-protease dual-enzyme wall-breaking enzymolysis method and a beta-cyclodextrin masking method. The spirulina is rich and complete in nutrition content, while has heavier odor which not only influences the flavor of the spirulina products, but also influences the processing and utilization of the spirulina, the treatment on the odor of the spirulina ordinarily comprises the wall breaking and deodorization steps, the operation is complicated and time-wasting, and the inappropriate deodorization conditions can cause the loss of the nutritional content. The invention provides a high-efficiency deodorization and low-nutritional content loss method of conducting wall breaking and deodorization to spirulina. The method is simple and convenient to operate and time-saving, and comprises the steps: conducting lysozyme-protease dual-enzyme wall-breaking to the spirulina, and partially hydrolyzing macromolecular odor proteins; and masking the odor substances with beta-cyclodextrin. The spirulina wall breaking and deodorization operation processes are simple, convenient and time-saving, the obtained deodorized spirulina basically has no odor, and the vast majority of nutritional content in the spirulina can be retained.