The present invention relates to a tolvaptan solid dispersion and its preparation method, particularly a solid dispersion comprising tolvaptan and a carrier crosslinked polyvinylpyrrolidone, the solid dispersion preferably further comprises water-soluble polymers, wherein said solid dispersion exhibits better thermodynamic stability and solubility, the pharmaceutical composition comprising said tolvaptan solid dispersion of the present invention can improve the release rate and bioavailability.