The invention provides repeatable printing type paper and a preparing method thereof. The printing paper is prepared from wood pulp, dyestuff, water and organic solvent by means of paper making technology, wherein the dyestuff is solvatochromic spiro-compound dyestuff. Due to the fact that the repeatable printing type paper contains the solvatochromic spiro-compound dyestuff, characters or patterns can be displayed as needed in the presence of water or acid color development agent and can disappear after a while, so that repeatable use can be achieved. Experiment results prove that when water serves as the color development agent, coloration time is 10 min to 30 h; when acid solution serves as the color development agent, coloration time is 30 min to 100 h. The preparing process is simple, and production can be conducted simply by adding the dyestuff to raw materials for mature papermaking process, so that the paper is obtained; cost is low.