The invention relates to the technical field of photoelectric material production, in particular to a germanium selenide target material and a preparation method thereof. The preparation method includes: A) heating the germanium block to 980-1050 DEG C, and keeping the temperature to obtain germanium liquid; B) heating the selenium block to 230-250 DEG C, after keeping the temperature, the selenium block is melted and dropped into the germanium solution , to obtain a mixed smelting solution; C) heating the mixed smelting solution at 980-1050° C. for 30-60 min, and after cooling, a selenium-germanium alloy is obtained; D) the selenium-germanium alloy is ball-milled, and the obtained selenium-germanium powder is Vacuum hot pressing sintering to obtain germanium selenide target; steps A), B) and C) are carried out under vacuum conditions. In the present invention, a selenium-germanium alloy is prepared by a vacuum dropping method, then a selenium-germanium powder is obtained by ball milling, and then a germanium selenide target is prepared by a vacuum hot pressing method. The selenium content varies little.