The invention relates to a preparation method of leather with a bubble effect. The preparation method of the leather with the bubble effect comprises the following steps: firstly, uniformly premixinga polymer, a heat conduction auxiliary agent, an organic foaming agent, a foam stabilizer and organic toner according to a ratio, and then carrying out melt extrusion and granulation to obtain plasticparticles; and carrying out melt extrusion molding or injection molding on the plastic particles to form a plastic product, and finally carrying out bubble excitation. According to the preparation method of the leather with the bubble effect, the foaming auxiliary agent and the foam stabilizer are added, so that bubbles are generated on the surface of a plastic product under laser excitation andare fixed on the surface of the plastic product, and the preparation method has the characteristics of simplicity in preparation, economy and environmental protection, automation, special effect, beautiful decoration and the like.