The invention relates to an instant tea powder with caffeine removed and fragrance remained and a preparation method thereof. The preparation method comprises the following steps: step (1), cooling chromatography; step (2), caffeine removal; and step (3), drying. The method combines the cooling chromatography with selective adsorption method resin to remove caffeine and to well retain the originaltea fragrance components at the same time, and the method has no contact with organic toxic solvent, so that the product is green, safe and environmentally friendly. The obtained product has good cold-solubility, has good luster and a good taste (low impurity content) after water dissolution, and well retains volatile aromatic components. At the same time, the finally obtained product is loose, porous, bright in color, in a crystal slice shape, and good in cold-solubility, and generates no scum at the time of brewing. The product of the invention has a caffeine content of 0.1% or below and acaffeine removal rate of 99% or above, and the pesticide residue is not detected. No organic solvent is used, so that the product is nutritive and healthy.