The invention belongs to the technical field of traditional Chinese medicine moxibustion, and particularly relates to a far infrared medicinal moxibustion substrate, a far infrared medicinal moxibustion product containing the far infrared medicinal moxibustion substrate and a preparation method of the far infrared medicinal moxibustion product. The far infrared medicinal moxibustion substrate mainly comprises the following raw materials, by weight, including 150-250 parts of bee wax, 30-50 parts of chocolate, 10-30 parts of honey, 100-200 parts of far infrared ceramic powder volcano energy mud, 20-40 parts of agaropectin, 16-18 parts of vaseline and 2-4 parts of capsaicin. The far infrared medicinal moxibustion product mainly comprises the following raw materials, by weight, including 1 part of the far infrared medicinal moxibustion substrate, 7-9 parts of ginseng, 5-7 parts of saffron crocus, 6-8 parts of rhodiola rosea, 8-10 parts of herba cistanche and 9-11 parts of dioscorea nipponica makino. The preparation method of the far infrared medicinal moxibustion product comprises the following steps of preparation of the far infrared medicinal moxibustion substrate, preparation of a drug mixture and preparation of a finished product; the preparation method is simple, convenient to use, relatively low in cost, and beneficial to popularization and application.