The invention discloses a high-precision printing circular screen photographic emulsion and a preparation method thereof; the photographic emulsion comprises binder, cross-linking agent, photosensitizer, flexibilizer, catalyst, diluent, stabilizing agent, sensitizer, emulsifying agent, antifoaming agent, fire retardant, buffering material, diluent solution and light sensitive agent; the photographic emulsion is prepared by steps of diluting, stirring, uniformly mixing and standing; the high-precision printing circular screen photographic emulsion has the following advantages that: the granulegrain diameter of the high-precision printing circular screen photographic emulsion is less than 2 microns and the granule has strong bonding force with the printing circular screen, strong chemical corrosion resistance and friction resistance and high printing resistance; the circular screen platemaking is capable of being developed clearly without blocking the screen holes; therefore, the stretching performance of the printing circular screen in printing process is improved; the service life of the printing circular screen is prolonged, the exposing time of the circular screen is shortened and bonding firmness of the emulsion layer and the printing circular screen is improved; in addition, the washing resistance firmness and resolution of the emulsion layer are high; volatilize organic compound is not produced in the preparation process, so the emulsion and the preparation method have less pollution on the environment and low harm on human body.