The invention discloses a mulberry leaf-based high-efficiency yellow catfish feed and a preparation method thereof. The feed comprises, by weight, 10-25 parts of fresh mulberry leaves, 12-24 parts of soybean meal, 25-35 parts of rapeseed meal, 18-25 parts of wheat flour, 8-12 parts of cottonseed meal, 0.01-0.03 part of lysine, 0.03-0.05 part of L-threonine, 0.5-1 part of Bacillus licheniformis, 1-2 parts of Lactobacillus plantarum and 0.02-0.05 part of an immunopotentiator. The feed is prepared through the preparation of mulberry leaf powder, zymophyte activation, fermentation of mulberry leaves, material fermentation, mixing and stirring, granulation and drying. The mulberry leaves and aggregates are fermented separately, and the immunopotentiator is added, so the utilization rate of the mulberry leaves in the feed is increased, the performances of the yellow catfish feed are improved, the survival rate and the disease resistance of the yellow catfish are improved, the feed is natural, and the edibility of the feed is improved.