The invention provides an environment-friendly and non-toxic preservative for condiments and a preparation method of the preservative and relates to the technical field of food additives. The preservative is prepared from the following raw materials: protamine, chitosan, a tea polyphenol extract, a Chinese herbal medicine extract, trans-cinnamic acid, agaro-oligosaccharides, bacteriocin, nisin, a spice extract, an acidulant, ethanol and water. The prepared preservative is environment-friendly, non-toxic and pure-natural, compounds a plant source, an animal source and a microorganism source, is non-toxic and harmless for a human body, cannot affect human health, can effectively prolong the shelf life of a hot sauce product and has very high sterilization and bacteriostasis capabilities.