The invention discloses an elastic cake and a preparation method thereof and belongs to the technical field of food processing and production. The elastic cake comprises the following constituents in parts by weight: cake flour 70-90, fresh eggs 60-80, white granulated sugar 60-80, trehalose 2-2.7, vegetable oil 40-50, a cake emulsifier 7-9, glycerine or water 5-7, double-effect baking powder 3-5, salt 1-5, egg milk-flavored powder 0.5-3, carotene 0.1-0.5, a pastry improver 1-5, sorbitol solution 9-12, potassium sorbate 0.1-0.2, glucolactone 0.5-1.5 and sodium dehydroacetate 0.05-0.1. The elastic cake is prepared through the operation steps of performing constituent proportioning, performing stirring, performing standing, performing forming through a machine, performing baking, performing packaging on finished products, etc., in sequence. The elastic cake prepared by the method provided by the invention is fluffy, soft and elastic and has a good taste, high nutritional value and high elasticity. The shelf life of the cake can be extended effectively through the method.