The invention discloses urchin peptide oral liquid and a preparing method of the urchin peptide oral liquid. The preparing method is characterized by comprising the following steps that after fresh urchins are peeled, urchin yolk is taken out to be mixed with water and is then subjected to slurry grinding; lipase is added for enzymolysis degreasing; hyperfiltration is carried out for collecting trapped fluid; urchin yolk crude protein solution is obtained; the urchin yolk crude protein solution is subjected to staged cooperated enzymolysis by bromelin and ginger protease; hydrolysates are subjected to filtration, hyperfiltration, proportion and concentration; then, the urchin peptide oral liquid is obtained. The method has the advantages that the urchin yolk rancidity phenomenon can be effectively prevented; the utilization rate of urchin protein is greatly improved; the food safety is effectively ensured; the mouthfeel of the urchin peptide oral liquid is improved; the stability of the urchin peptide oral liquid is greatly improved through the antioxidant activity; the shelf life is prolonged; in addition, the auxiliary effects are respectively achieved in aspects of regulating the immunity, protecting the livers, resisting the tumor and resisting the aging.