The invention relates to montmorillonite modified silicone fluid sealant and a process for preparation, the fluid sealant is composed of silicone crude rubber, metasilicate montmorillonite, organic treating agent, cross-linker, plasticizing agent, viscosity increaser and initiating agent, the process for preparation comprises cation exchange reaction between the montmorillonite and the organic treating agent, then, organic modified montmorillonite is evenly scattered in the silicone crude rubber, and then the cross-linker, the initiating agent and other additives are added, solidified, and shaped. The fluid sealant has good binding power, excellent weather fastness, perfect ultra-violet resisting anti-aging performance and water-resistant performance to bridges, tunnels and road projects and concrete elements of buildings, can keep excellent flexibility and stretch rate in environments of sun, rain, snow, extreme high or extreme low-temperature, has non pollution to environment and road surface, and can be widely applied to seal concrete dilatation joints in the bridges, the tunnels, the road projects, airport runway, construction works and the like, to repair cracking concrete structures, and to treat metal surface with anti-corrosion.