The invention provides an electric kettle and a control method thereof. The electric kettle comprises a kettle body, a base, a receiving component, a temperature sensing component, a heating component, a refrigerating component and a control component. The receiving component is used for receiving a temperature value preset by a user; the temperature sensing component is arranged on the kettle body and used for detecting the temperature of water in the electric kettle in the work process of the electric kettle to obtain the current temperature value of the water; the heating component and the refrigerating component are arranged on the kettle body, the heating component is used for heating the water in the electric kettle, and the refrigerating component is used for refrigerating the water in the electric kettle. The control component is electrically connected with the heating component, the refrigerating component and the temperature sensing component and used for calculating the temperature difference value between the current temperature value, detected by the temperature sensing component, of the water and the temperature value preset by the user and controlling the heating component to carry out heating or controlling the refrigerating component to carry out refrigeration according to the temperature difference value. By means of the electric kettle and the control method thereof, the user can adjust the temperature of the water according to own needs, and the use experience of the user can be effectively improved.