The invention discloses a preparation methods euphausia superba iron chelate peptide. Euphausia superba powder is used as a raw material, degreasing, enzymolysis and membrane separation are performed,and a component with molecular weight smaller than 3000 Da is taken and subjected to vacuum freeze-drying to obtain the euphausia superba iron chelate peptide. The euphausia superba iron chelate peptide can bind with Fe<2+> to form euphausia superba iron chelate. The prepared euphausia superba iron chelate peptide has iron chelate rate up to 93%, can improve the bioavailability of iron in organisms, has good iron absorption promoting activity, can promote iron absorption and supplement organisms with essential amino acids for organisms compared with inorganic iron FeSO4, and also provides a new direction for high-value utilization of euphausia superba. The prepared euphausia superba iron chelate peptide can be applied to preparation of iron-rich food or iron supplements.