The invention discloses a nanoscale iron oxide red preparation method, comprising the steps as follows: firstly, alkaline material is dissolved in water so that alkaline solution is prepared; secondly, the alkaline solution is mixed with crystalline control agent, and a certain amount of the mixed solution is collected and added into ferric sulfate solution at the temperature of 30 to 50 DEG C until the pH value is 8 to 10, and then is heated to 65 to 75 DEG C for reaction, so that colloid is produced and seed crystal is prepared; thirdly, the pH value is adjusted to 2 to 5, and a certain amount of ferrous sulfate solution is added and heated to 85 to 110 DEG C, and takes aging reaction for 3 to 9 hours; fourthly, after filtering, the filter cake is rinsed with water, dried and crushed, so that transparent iron oxide powder is obtained; and finally, the iron oxide powder is calcined at the temperature of 280 to 400 DEG C, dried and crushed, so transparent nanoscale iron oxide red is obtained. The prepared transparent iron oxide red has the advantages of uniform particle-size distribution, pure color phase, good dispersity, simple preparation process, strong controllability, short production cycle and high efficiency, and has no pollution to the environment.