The invention discloses a Chinese yam-walnut ice cream with effects of quenching thirst and benefiting vital energy and a preparation method of the Chinese yam-walnut ice cream. The Chinese yam-walnut ice cream is prepared from the following raw materials in parts by weight: 4-5 parts of bamboo shoots, 2-3 parts of biscuit crumbs, 3-4 parts of litchi liquid, 1-2 parts of mulberries, 1-2 parts of buckwheat, 1-2 parts of cervus elaphus Linnaeus, 200-210 parts of Chinese yam, 40-50 parts of semen juglandis, 2-3 parts of sodium carboxymethylcellulose, 60-70 parts of saccharose, 20-22 parts of eggs, 120-130 parts of milk powder, 30-40 parts of cream, a proper amount of cellulase, a proper amount of ethanol solution, a proper amount of ascorbic acid and a proper amount of water. The Chinese yam-walnut ice cream is prepared by the step of slicing the bamboo shoots, mixing the bamboo shoot slices with the litchi liquid, pulping, carrying out centrifugal drying to obtain powder, mixing the powder with the biscuit crumbs, grinding, and sieving, so as to obtain fine powder. The litchi liquid is supplemented with the sweetness of the bamboo shoots and is matched with the biscuit crumbs, thus achieving special flavor and richful tastes.