A pH-sensitive temporary plugging agent and its preparation method, and the use thereof in exploitation of a low-permeability oil reservoir are disclosed. The temporary plugging agent is prepared by raw materials including, in percentages by mass, 3-8% of carboxymethyl chitosan, 0.2-0.7% of gelatin, 0.1-0.6% of an initiator, 5-15% of a toughener, and a balance of water, wherein the initiator is a solution of AgNO3 in ammonia water having a concentration of 0.1-0.3 mol/L, and the toughener is a carboxyl-terminated hyperbranched polyester.