The invention discloses depilatory wax for livestock and poultry slaughter processing and a preparation method of the depilatory wax for livestock and poultry slaughter processing. The depilatory waxis prepared from, by weight, 40-60% of modified polyethylene wax, 30-50% of paraffin and 5-15% of a tackifier. The preparation method of the depilatory wax includes steps: 1) performing reaction of polyethylene wax and maleic anhydride at 118-123 DEG C for 60-90min in existence of tert-butyl hydroperoxide, and then subjecting to reaction with an auxiliary agent at 110-120 DEG C for 15-20min to obtain modified polyethylene wax; 2) subjecting the modified polyethylene wax, paraffin and the tackifier to fusion mixing at 150-175 DEG C for 30-40min to obtain the depilatory wax for livestock and poultry slaughter processing. By adoption of the preparation method, the depilatory wax for livestock and poultry slaughter processing is safe, efficient and ideal in adhesiveness and can be used for a secondary unhairing process in livestock and poultry slaughter processing.