The invention provides a soft capsule health food capable of protecting the liver. The food is characterized by comprising squalene and soybean lecithin soft capsules and plant oil. The invention further provides a preparation method and application of the health food. According to the food, squalene is compounded with soybean lecithin, so that the content of rat serum triglyceride and malondialdehydle of an alcohol model can be remarkably reduced and the content of reduced glutathione in hepatic tissues is increased, which fully shows that a squalene and soybean lecithin compound has a remarkable protection effect on alcohol-induced liver damage; therefore, the protection effect on chemical liver damage can be improved. Compared with single soyabean lecithin, the squalene and soybean lecithin compound has a better protection effect on chemical liver damage.