Training recommendation systems (RecSys) faces several challenges as it requires the "data preprocessing" stage to preprocess an ample amount of raw data and feed them to the GPU for training in a seamless manner. To sustain high training throughput, state-of-the-art solutions reserve a large fleet of CPU servers for preprocessing which incurs substantial deployment cost and power consumption. Our characterization reveals that prior CPU-centric preprocessing is bottlenecked on feature generation and feature normalization operations as it fails to reap out the abundant inter-/intra-feature parallelism in RecSys preprocessing. PreSto is a storage-centric preprocessing system leveraging In-Storage Processing (ISP), which offloads the bottlenecked preprocessing operations to our ISP units. We show that PreSto outperforms the baseline CPU-centric system with a $9.6\times$ speedup in end-to-end preprocessing time, $4.3\times$ enhancement in cost-efficiency, and $11.3\times$ improvement in energyefficiency on average for production-scale RecSys preprocessing.