The present invention discloses one kind of recombinant influenza virus and its preparation and application. The recombinant influenza virus is prepared through: 1) inserting PB2 coding gene, PB1 coding gene, PA coding gene, M coding gene, NS coding gene and NP coding gene from the cold-adapted strain of type-A or type-B influenza virus and HA coding gene and NA coding gene from the epidemic pathogenic influenza virus strain of this year separately into eukaryotic cell expression plasmid to obtain eight recombinant expression plasmids; and 2) introducing the eight recombinant expression plasmids into mammalian cells and culturing the mammalian cells to obtain recombinant type-A or type-B influenza virus. Adopting the recombinant influenza virus of the present invention as attenuated live vaccine has wide applicability, and can activate effect mucous membrane immunity and system immunity. The superior cell culture system may be used to replace chicken embryo vaccine virus antigen production.