The present invention discloses a saury Maillard peptide with antihyperuricemic activity and its preparation method and application, with the method comprising the following steps: mincing a saury, adding water, heating, agitating, adjusting a pH value to 4.2, separating by centrifugation, and collecting the precipitate; adding water, proteases and amino acids to the precipitate, adjusting a pH value to 7.0, hydrolyzing, adding a reducing sugar to cause a reaction, centrifuging and collecting a supernatant which is saury Maillard peptide; and spray drying the peptide liquid to obtain a dry powder. The method of the present invention realizes the continuous action of enzymolysis and Maillard reaction to prepare the Maillard peptide, not only simplifying the production process, shortening the production cycle, and reducing the production costs, but also significantly enhancing the antihyperuricemic activity of the produced Maillard peptide. Animal experiments in rats showed that the obtained Maillard peptide prepared by the method of the present invention could significantly decrease the level of serum uric acid in rats, and display certain protective effect in their kidney.