The invention discloses a peony moisturizing lotion. The peony moisturizing lotion is prepared from, by mass, 5-30% of a rose extracting solution, 5-50% of a peony flower extracting solution, 8-10% of a peony bark extracting solution, 2-5% of a licorice root extracting solution, 0.5-2% of sodium hyaluronate with the average molecular weight smaller than 10<4>Da, 0.5-2% of sodium hyaluronate with the average molecular weight being 10<6>Da, 0.1-0.5% of polyglutamic acid, 2-5% of glycerol, 0.5-2% of peony seed oil and the balance deionized water. The invention further discloses a preparation method of the peony moisturizing lotion. The peony moisturizing lotion has the long-acting moisturizing, whitening and wrinkle removing and antisepsis and anti-inflammation effects, is safe, stable and not greasy, can fast improve the moisture holding capacity of skin and motivate the vitality of cells, has the functions of keeping the kin moist and preventing the skin from being dry and becoming dark, and is high in safety, suitable for skin in various types and free of anaphylactic reaction.