The present invention relates to a method for preparing a natural neutral flavor, and more particularly to a method of preparing a natural neutral flavor using an inosine-5-monophosphate (IMP) fermented broth or a glutamic acid fermented broth prepared by a two-step fermentation process comprising a first fermentation step for fungal fermentation and a second fermentation step for bacterial fermentation, a natural neutral flavor prepared by the method, and a food composition comprising the natural neutral flavor. The natural neutral flavors prepared according to the method of the invention are prepared using natural raw materials, and thus are harmless and safe for use in the human body, and may be added to food to produce clean and mild tastes, and improve the flavor of the food.