The invention specifically discloses a milk replacer for squabs and a preparation method for the milk replacer, and solves the problem of restrictions of lactation of conventional 1 to 10-day aged squabs to squab intensification and industrialization. The milk replacer for the squabs is prepared from the following air-dried solid raw materials in parts by weight: 250 to 300 parts of egg powder, 150 to 200 parts of fish meal, 150 to 200 parts of soybean meal, 100 to 150 parts of whole milk powder, 80 to 100 parts of vegetable oil, 50 to 80 parts of corn gluten meal, 40 to 80 parts of lactic acid powder, 6 to 8 parts of calcium hydrogen phosphate, 2 to 3 parts of edible salt, 0.8 to 1 part of composite trace element, 0.6 to 1 part of composite vitamin and 0.1 to 0.2 part of an antioxidant. The prepared milk replacer is nutritionally balanced, high in palatability and easy to digest and absorb and accords with gastrointestinal digestion characteristics of the squabs, and has the advantages of convenience in storage and preparation and capability of meeting squab intensive-feeding production requirements, and requirements of 1 to 10-day aged squabs on nutrition are met.