The invention relates to a solvent-based environmental-friendly combined solvent used for neoprene latex, and a preparation method thereof. The solvent-based environmental-friendly combined solvent comprises one or a plurality of solvents selected from ethyl acetate, dimethyl carbonate, cyclohexane, solvent gasoline No.120, acetone and the like. The ratio is calculated according to solubility parameter adding algorithm, and the combined solvent which is used for dissolving eoprene is prepared by adjustment of experiment. Viscosity of the neoprene latex prepared by using the solvent-based environmental-friendly combined solvent is controlled between 0 to 1000mpa.s, solid content reaches 20 to 50%, smell is fragrant, cost is low, and no harm on environment or human body is caused by the neoprene latex.