The invention discloses medical depilatory cream and a preparation method thereof, and relates to the technical field of depilatory cream. The medical depilatory cream is prepared from the following materials in parts by weight: 6-8 parts of calcium thioglycolate trihydrate, 2-4 parts of stearyl alcohol, 2-4 parts of cetanol, 12-16 parts of vaseline, 8-10 parts of liquid paraffin, 4-8 parts of glycerol, 4-8 parts of hydroxyethyl stearate, 4-8 parts of polyoxyethylene aliphatic alcohol ether, 0.5-1.5 parts of poloxamer, 0.001-0.1 part of a synthetic antiseptic antibacterial agent, and 50-60 parts of deionized water. The invention also discloses a preparation method of the medical depilatory cream. An external antiseptic antibacterial agent is added to common depilatory, so that the medical depilatory cream has the function of killing the bacteria at the skin surface when unhairing, and restrains growth of the bacteria within a certain period of time. The medical depilatory cream is small in thrill of used auxiliary material; and hair follicles can be effectively protected. Therefore, the medical depilatory cream is simple to prepare, convenient to use, and dedicated to skin preparation before an operation, and has antiseptic and antibacterial effects.