Provided in the present invention is a composition serving as a protectant of a live attenuated influenza vaccine. The composition comprises the following components at the following concentrations: 1.0 15.0 g/L of human serum albumin 15.0 95.0 g/L of sucrose and 0.5 15.0 g/L of sodium glutamate. The invention further provides a method for preparing the live attenuated influenza vaccine by using the composition of the present invention. The method comprises the following steps: sequentially dissolving respective components of the composition of the present invention in a pH buffer solution adjusting a pH to a designated value performing filtration and sterilization and adding a virus stock solution to obtain the live attenuated influenza vaccine. The invention further provides a live attenuated influenza vaccine in the form of an injection or a nasal spray.