The invention discloses mometasone furoate emulsifiable paste and a preparation method thereof, and belongs to the technical field of external pharmaceutical preparations. The mometasone furoate emulsifiable paste comprises the following components in parts by weight: 0.5 to 2 parts of mometasone furoate, 0.2 to 0.4 part of acid, 75 to 150 parts of an oil phase regulator, 30 to 50 parts of a consistency regulator, 60 to 100 parts of a humectant, 80 to 120 parts of a co-emulsifier, 60 to 90 parts of a cosolvent, 1 to 3 parts of a whitening agent, 30 to 50 parts of an emulsifier, 0.3 to 1 part of a preservative and 495 to 605 parts of water. The preparation method disclosed by the invention is advanced in process, and simple and easy to operate, and the prepared mometasone furoate emulsifiable paste is reduced in impurity content, high in yield and good in stability.