The invention discloses a luggage hot melt adhesive and a preparation method thereof. The luggage hot melt adhesive is prepared from the following raw materials in parts by weight: 100 parts of an esterified styrene maleic anhydride copolymer, 5 to 15 parts of ethylene-ethyl acrylate, 5 to 20 parts of a toughening agent, 1 to 5 parts of a lubricating agent, 30 to 80 parts of a thickening agent and2 to 10 parts of a plasticizing agent. The invention also discloses the preparation method of the luggage hot melt adhesive. The luggage hot melt adhesive disclosed by the invention is good in operability, simple and quick in an adhesion process, can be widely used for adhering leather for luggage, PU (Polyurethane) leather, PVC (Polyvinyl Chloride) leather, textile formed by all kinds of materials, metal, PP (Polypropylene), ABS (Acrylonitrile Butadiene Styrene), PC (Polycarbonate) and the like, and a series of safety problems which disturb the industry and are caused by a solvent adhesive due to solvent volatilization and the problems that the opening time of a common hot melt adhesive is insufficient, and operation cannot be carried out are solved.