The invention relates to fumigating ointment for treating leucoderma and a preparation method, belonging to the technical field of Chinese traditional medicines. The fumigating ointment comprises guiding fumigating ointment prepared from the raw materials of Fruit of Chinese Holly and leaves of common fig, and main fumigating ointment prepared from the raw materials safflower, Chinese Angelica, stiff silkworm, malaytea acurfpea fruit, south dodder seed, puncturevine caltrop fruit, bighead atractylodes rhizome, calculus bovis artifactus and liquorice. In the invention, the fumigating ointment with special effects on soothing the liver, regulating qi, dispelling pathogenic wind, tonifying the liver and the kidneys, and radically curing various leucoderma is developed through multiple years of experiments according to modern Chinese medicine and traditional pharmacopeia by combining 'Prescriptions for Fifty-Two Diseases', which is derived from the Mawangdui Tomb of Han dynasty and relates to treatment on diseases through steam fumigation by decocted hot traditional Chinese medicines, and abiding by the dialectical treatment application principles of treating inside diseases externally, applying oral medicines externally and externally fumigating for treating inside of ancient prescriptions.