The invention relates to a birthday candle using vegetable oil as a raw material, which mainly comprises the following components in portion by weight: 2 to 40 portions of the vegetable oil, 30 to 80 portions of hydrogenated vegetable oil, 20 to 80 portions of stearic acid, and 2 to 20 portions of polyglyceryl fatty acid ester. A preparation method for the birthday candle comprises the following steps: under the heating condition of between 60 and 70 DEG C, mixing the vegetable oil, the hydrogenated vegetable oil, the stearic acid and the polyglyceryl fatty acid ester according to a proportion, stirring the mixture evenly, then injecting the mixture into a blank die, and cooling and shaping the mixture to obtain the birthday candle. The birthday candle and the preparation method have the following advantages that the prepared birthday candle has high melting point (more than 58 DEG C), high strength, large hardness (generally, the penetration value is less than 3 millimeters at 100 grams / 5 seconds / 25 DEG C), and is not easy to deform; the used vegetable oil and a deep processing product of the vegetable oil can be edible materials, and are safe and sanitary; and the preparation method is simple, and only uses the prior equipment for producing the candles to produce the birthday candle.