The invention relates to a velvet crazy-horse resin for synthetic leather and a preparation method of the velvet crazy-horse resin. The resin is prepared from the following components: modified polyurethane, nitrocotton, dimethylformamide, methylal, silicon dioxide extinction powder, coloring wax powder and organic silicone oil. The velvet crazy-horse resin is a novel material for a front veneering process of the synthetic leather; the resin can enable the surface of the synthetic leather to have relatively good velvet feeling and smooth hand feeling after the synthetic leather is dried-tanned, and the synthetic leather adopting the resin has the advantages that the surface scratching resistance is improved remarkably, natural glossiness as well as clear color and luster are achieved, and the velvet crazy-horse resin has strong waxy feeling, excellent leather feeling and good general effect.