The present invention relates to a method of preparing butadiene. More particularly, the present invention relates to a method of preparing butadiene by feeding butene and oxygen into a reactor containing a composite metal oxide catalyst and performing oxidative dehydrogenation, wherein a mole ratio of the oxygen to the butene is 1.8 to 2.2.In accordance with the present invention, a method of preparing butadiene to secure long-term operation stability by maintaining the intensity of a catalyst despite oxidative dehydrogenation and not to decrease selectivity due to less side reaction is provided.