A method for preparing high-grade and casual fabric with special leather feel using a corn-based fiber that comprises the steps of: 1) selecting 0.3-0.5 D/PF ultrafine corn-based polymeric fiber, i.e., DuPont™ SORONA®, and 0.2-0.4 D/PF long porous bright polyester yarns as raw materials; 2) compositing by air-jet texturing: having the above raw materials composited by low tension air-jet texturing in an air texturing machine, with the tension force controlled in the range of 4.5-6.0 cN, so as to form ATY yarns with a denier number of 120-180 D; 3) weaving, which includes yarn sizing, preliminary drying, oil applying and plain weaving; 4) dyeing and finishing, which include treating a fabric by pre-treating, presetting, splitting and alkali detaching, water washing and dehydrating, dyeing, water repellent treatment, instant ultrahigh temperature treatment, and one-sided lustering.