The invention relates to a textile printing and dyeing ink which is prepared from the following components in percentage by weight: dye, glycol, diethylene glycol, glycerol, reserve salt K, sodium carbonate, sodium sulfate, urea, sodium bicarbonate, sodium hexametaphosphate and de-ionized water. The textile printing and dyeing ink comprises red printing and dyeing ink/yellow printing and dyeing ink/blue printing and dyeing ink/black printing and dyeing ink. The preparation method comprises the following steps of: respectively weighing the dye, the glycol, the diethylene glycol, the glycerol, the glycerol reserve salt K, the sodium carbonate, the sodium sulfate, the urea, the sodium bicarbonate, the sodium hexametaphosphate and the de-ionized water in percentage by weight; and uniformly stirring and mixing in a mixing vessel, standing and filtering to obtain the finished product textile printing and dyeing ink. The invention has the advantages of good quality, low price, bright color, high stability, strong tinctorial power, tiny undissolved substances, suitability for different types of inkjet printers, no blocking due to capability of automatically cleaning the injection head, good fluidity, smooth jet stream, no wrinkle or diffusion on the picture when being directly sprayed on textiles, high color fastness and ultraviolet radiation resistance. The image does not fade after being preserved for 20 years, and the injection head can not be blocked when the inkjet printers are in off state within half a year.