The invention discloses SBS grafted odor-removing mattress spraying glue and a preparation method thereof. The SBS grafted odor-removing mattress spraying glue comprises, by weight, 10-15 parts of methyl isobutyl ketone, 5-10 parts of isopropyl formate, 10-20 parts of aromatic environment-friendly solvent oil, 15-25 parts of methyl cyclohexane, 10-18 parts of SBS elastomer, 0.1-0.5 part of BPO, 5-15 parts of MMA, 0-8 parts of BA, 0-3 parts of 2-HEMA, 1-3 parts of terminating agent, 10-15 parts of hydrogenated petroleum resin and 12-18 parts of hydrogenated rosin modified resin. The SBS grafted odor-removing mattress spraying glue has the advantages that the glue is colorless, transparent, high in adhesive force, resistant to yellowing, efflorescence, high temperature, oil and plasticizer, nontoxic, odorless and free of residues and is an ideal spraying glue choice for high-end mattress manufacturers, the glue is small in odor during spraying, a glue film is free of residual solvents and resin odor, pure white and transparent, and light-colored mattress fabric cannot polluted after glue spraying.