[Objective] The research aimed to study the preparation method and structure of water-soluble polysaccharide in corn skin (PCS). [Method] The optimum extracted condition of polysaccharide was studied by using one-factor experiment and the structure of polysaccharide was analyzed by using HPLC, IR spectrum and UV spectrum. [Result] The optimum extracted conditions were that material: water was 1:30, temperature was 100℃, extracted time was 2 h, extracted times was 2 times. From 100 g corn skin, 6.94 g polysaccharide could be obtained according to the above conditions, and the purity was 88.18%. The main sugar of the polysaccharide was α-D-Glup (90.8%), along with small arabinose(Ara), xylose(Xyl), galactose(Gal)and protein. [Conclusion] Corn skin contained quite a few water-soluble polysaccharide, so it had high value of use and development.