The invention belongs to the technical field of wax mud, particularly relates to wax mud for wax therapy and a preparation method, and aims to solve the problems that the existing wax mud is single in curative effect and common in absorption effect, some functional components cannot be well separated out in the preparation process, and the absorption effect cannot be guaranteed. According to the technical scheme, the wax mud comprises microcrystalline wax, volcanic ash, deep mineral salt, stone needle powder, artemisia argyl oil, ginger oil, aristolochia mollissima, nineral magnesium, mineral calcium and magnetic particles. The preparation method comprises the steps of raw material mixing, wax material melting, preliminary mixing, electrolytic analysis, cooling, and dicing, wherein the balance is beewax. According to the invention, materials are conveniently mixed in the processing process, the heat capacity of the wax mud is improved, the hot compress effect of the wax mud is improved, the mineral substance magnesium and the mineral substance calcium are combined to be beneficial to relieving skin aging and promoting bone growth, the added ginger oil is matched to be beneficial to pore expansion and promoting absorption of effective components, a better wax material effect is achieved, and the added artemisia argyl oil is beneficial to clearing away heat and toxic materials.