Disclosed are a dynamic non-wicking PU foam and preparation and application thereof The PU foam is prepared from polyether polyol, toluene-2,4-diisocyanate, non-wicking additive and auxiliary agent. The dynamic non-wicking additive is composed of carboxylic acids, amines and alkyl alcohols in any proportion. The auxiliary agent is composed of silicone surfactant, amine promoter, tin catalyst, pigment and water. The dynamic non-wicking PU foam has a high stability and an extremely non-wicking effect. The shoes made of the dynamic non-wicking PU foam also have extremely good dynamic non-wicking and waterproof effects, thus ensuring both comfort and stability of quality.