Abstract: Disclosed are a food grade starch based modeling clay with high elasticity and high ductility and its preparation method, belonging to the technical field of modeling clay preparation. The starch based modeling clay provided by the present disclosure is prepared from the following formula components: 160-180 parts of starch, 140-160 parts of water, 10-15 parts of a food grade stabilizer, 10-15 parts of edible salt, 0-10 parts of hydrophilic colloid, 0.6-0.8 parts of a preservative, 40-60 parts of a food grade plasticizer, 6-10 parts of food grade white oil, and 4-8 parts of edible pigment. The starch includes one or a combination of more of cassava starch, wheat starch, and glutinous rice starch. The present disclosure, through combined use of the starch and the hydrophilic colloid, makes the prepared starch based modeling clay have good viscoelasticity and ductility, and good in storage stability, safe and non-toxic.