The invention discloses high-heat-stability white light light-emitting glass for a borate matrix LED, and a preparation method of the light-emitting glass. The chemical formula of the light-emitting glass is (100-4x-2y)SrO-200B2O3-xTb4O7-yEu2O3, wherein x is greater than or equal to 2 and smaller than or equal to 3, and y is greater than or equal to 2 and smaller than or equal to 5. The white light light-emitting glass provided by the invention is near ultraviolet excited white light luminescent borate glass, has the light-emitting character of fluorescent powder and also has the encapsulation performance of epoxy resin, so the fluorescent power and the epoxy resin encapsulation material for the traditional white light LED can be replaced and the preparation process of the traditional white light LED is simplified; furthermore, the white light light-emitting glass has the advantages of high transmittance, high heat stability and the like, can solve the problems that the epoxy resin for LED encapsulation is liable to ageing as well as the heat stability, the heat conductivity and the transmittance are reduced along with the increment of the use time, also can solve the problems that chroma excursion, light intensity thermal quenching and the like occur in the traditional LED fluorescent powder, and can be used for preparing white light LED devices with high heat stability and low cost through a simple process.