A method of preparing a superabsorbent polymer is provided, which is able to improve physical properties and to recycle fine powder generated during the preparation process. Particularly, a method of preparing a superabsorbent polymer capable of improving physical properties by using a base resin including a water-containing gel polymer and a base-treated fine powder regranulated body, which are different from each other in degree of neutralization, during preparation of the superabsorbent polymer, is provided.