The invention provides a formula and preparation method of microcapsules prepared from deer horns and pilose antlers of sika deers. The preparation method comprises the following steps of performing cleaning; performing drying; performing coarse crushing; performing superfine crushing; compounding core material mixed liquor; compounding wall material mixed liquor; performing embedding; performing curing; performing cleaning; performing drying; and performing packaging. The formula of the microcapsules comprises the components of the deer horns and the pilose antlers of the sika deers, sodium alginate, sucrose fatty acid ester, sodium tripolyphosphate, carboxymethyl chitosan and calcium chloride. According to the formula disclosed by the invention, the dispersibility, the stability, the safety, the bacterium resistance and the oxidation resistance of micro powder made from the deer horns and the pilose antlers of the sika deers can be improved, and besides, the mechanical strength of the microcapsules prepared from the deer horns and the pilose antlers of the sika deers is strengthened. According to the formula disclosed by the invention, the deer horns and the pilose antlers of the sika deers are in superfine crushing through a technique and are prepared into the microcapsules; and therefore, sufficient absorption of nutrient components of the microcapsules by human bodies can be improved, bad smell of the deer horns and the pilose antlers can also be concealed, the stability of products is improved, and slow release of the nutrient components is controlled.