To provide a method for preparing a beta-cyclodextrin high in compressibility and in long-term stability and to provide the beta-cyclodextrin prepared thereby.

The method comprises a process wherein a hydrated beta- cyclodextrin is dehydrated until its water content occupies 6 mass%, preferably less than 4 mass%, and still preferably 2 mass% or less, and a process wherein the beta-cyclodextrin is compulsorily rehydrated until its water content occupies more than 10 mass%, preferably more than 12 mass%, and still preferably 13 mass% or more. The beta-cyclodextrin prepared by this method is beyond 70 N in compressibility in a C test.