The invention provides cleansing milk integrating three effects of makeup removal, cleansing and bacteria inhibition and a preparation method thereof. The cleansing milk is prepared from sapindus saponin liquid, an amino acid surfactant, cocoyl isethionate, natural vegetable oil, an emulsifier and water. The preparation method of the cleansing milk comprises the following steps: firstly mixing thenatural vegetable oil, the amino acid surfactant, cocoyl isethionate and the emulsifier; then adding water and an optional humectant, and mixing; finally adding the sapindus saponin liquid, an optional antioxidant and an optional preservative, and mixing to obtain the cleansing milk. The above components are combined together for the first time, and cooperate with each other to synergistically interact, and the obtained cleansing milk has the remarkable effects of makeup removal and cleansing, and also can effectively enhance the bacteria inhibition function. In addition, the cleansing milk provided by the invention is safe, non-toxic, low in irritation, easy to degrade, and environmentally friendly.