The invention relates to an anti-cracking oscillating trough castable for a blast furnace and a preparation method of the castable. The oscillating trough castable comprises the following components in parts by weight: 50-75 parts of corundum contaiing magnesia-alumina spinel, 10-20 parts of silicon carbide, 5-15 parts of mullite, 1-4 parts of aluminate cement, 1-3 parts of kyanite, 1-2 parts of acomposite antioxidant, 0.05-0.2 part of a water reducing agent and 15-30 parts of additives. An oscillating trough liner prepared by adopting the anti-cracking oscillating trough castable disclosed by the invention has excellent structural toughness, thermal shock resistance, scouring resistance, oxidation resistance, micro-expansibility and application property, can well inhibit a cracking phenomenon of an oscillating trough, and achieves effects of improving the iron-making production safety in the blast furnace, prolonging the service life of the oscillating trough and reducing the labor intensity of workers in front of the furnace.