The invention provides odor-free natural rubber which is prepared from the following raw materials in parts by weight: 100 parts of natural rubber latex, 0.1-10 parts of a zeolite molecular sieve, 0.05-0.25 part of a surfactant, 0.01-4 parts of a coupling agent and 0.1-20 parts of a deodorant. A preparation method of the odor-free natural rubber comprises the following steps: putting a modified zeolite molecular sieve dispersion into the natural rubber latex, curing the natural rubber latex in different curing modes, performing pressing creeping so as to obtain rubber pieces, suspending the rubber pieces for a certain time at a room temperature, pelletizing, soaking pellets into a deodorant for a certain time, and drying in a hot air drying tank, thereby obtaining the odor-free natural rubber. The odor-free natural rubber provided by the invention is free of odor, good in mechanical property and low in heat generation property, and can be applied to natural rubber products such as tire, rubber tubes, medical latex products and soles. The method provided by the invention is simple in process, stable in product quality and easy in industrial production.