A health-care preparation simultaneously with magnesium supplement and antioxidant functions and a preparation method thereof are disclosed. The health-care preparation comprises a main active ingredient of magnesium agent and an excipient. The magnesium agent is MgH2 micro-nano powder, and the excipient is a commonly used dietary supplement auxiliary material. Compared with the existing magnesium-supplementing preparation, the health-care preparation can simultaneously supplement magnesium which is the essential trace element in human body, and hydrogen which can neutralize oxygen free radicals. The present invention has the following advantages: it is convenient for storage and taking, and has a high conversion and absorption efficiency, a low cost, and no toxic side effects. Long-term use of the preparation can effectively prevent a variety of adverse symptoms caused by magnesium deficiency, moreover the introduction of hydrogen which has an antioxidant effect can benefit to anti-inflammatory, body health, anti-aging and prevention of disease.