A conductive slurry for a solar battery is disclosed, which comprises a first-order aluminum powder having a median diameter D50 of about 2-8 um, a second-order powder having a median diameter D50 of about 20-100 nm, a glass powder, and an organic carrier. The conductive slurry may be stable on a screen without leakage through screen, and there are no agglomeration and sedimentation during long-time storage. A method of preparing a conductive slurry for a solar battery is also disclosed, which comprises steps of mixing a first-order aluminum powder, a second-order powder, a glass powder, and an organic carrier to obtain a mixture; and then ball milling the mixture to obtain the conductive slurry. The method may be simple and easy to realize, so that it's advantageous for mass production in the industry.