The invention belongs to the field of environment-friendly auxiliary agents and discloses an environment-friendly plasticizer and a preparation method and application thereof. The environment-friendly plasticizer is prepared from 15-21% of benzoate, 17-23% of dipropylene glycol dibenzoate, 17-23% of diethylene glycol dibenzoate, 17-23% of tributyl citrate and 19-25% of a stabilizing agent. By addition of the stabilizing agent, chemical stability of the plasticizer is improved; by adoption of long-chain fatty acid for modification of dipropylene glycol dibenzoate, system freezing point is lowered while toughness is improved. The plasticizer is free of harmful substances forbidden and limited internationally and domestically and is nontoxic, environmental friendly, resistant to high temperature, great in low-temperature effect, low in volatility, high in compatibility to various substances, great in plasticizing performance and promising in application prospect. Addition amount of the plasticizer added into glue and adhesive products is small, cold resistance, water resistance and mildew resistance of products are achieved, and the plasticizer can be applied to industries of food packaging, medical and healthcare products, toys for children and the like.