The invention discloses a centrifugal spray granulation process for preparing a high-density ITO target material, and belongs to the technical field of ITO target material processing, the centrifugal spray granulation process comprises the following steps: S1, In2O3 nano powder and SnO2 nano powder are weighed, deionized water and a dispersant are added, and uniformly stirred to obtain slurry; s2, the slurry is subjected to ball milling through a sand mill, then a binder and a defoaming agent are added, and slurry to be granulated is obtained after uniform mixing; s3, external air is extracted through a draught fan, so that the air sequentially passes through a filter, a heater and an air collecting pipe and then is exhausted into the tank body through an air distributing pipe in the tank body for granulation till the tank body is full of hot air with the temperature of 130-240 DEG C; the slurry to be granulated is conveyed through the feeding pipe, so that the slurry to be granulated is atomized through the atomizer and then sprayed into the tank body, and the required granulated powder is obtained. The problem that in the ITO target material spray drying process, the drying rate of the vaporous raw materials is low is solved.