The invention belongs to the technical field of preparation of seedling raising matrixes for crops and particularly discloses a rice seedling raising matrix employing earthworm cast as a main raw material and a preparation method for the rice seedling raising matrix. The rice seedling raising matrix is prepared from the earthworm cast, vermiculite and ureaformaldehyde, wherein the mass percent of the vermiculite in the entire rice seedling raising matrix is 10% to 30%, the addition level of the ureaformaldehyde guarantees that the weight of pure nitrogen provided by per kg of the rice seedling raising matrix is 0.5g to 1.5g, and the balance is the earthworm cast. The rice seedling raising matrix disclosed by the invention can achieve a coordinated state for the stability, water and fertilizer retention performance, air and water permeability and buffering property of the matrix, has relatively good effects on rice young-seedling plant height, stem diameter, overground part dry matter weight, total chlorophyll content and overground part plant nitrogen content and can serve as an appropriate rice seedling raising matrix which replaces materials such as peat.