Disclosed are a phenyl amino sodium propionate derivative, a preparation method therefor and an application thereof. Specifically, disclosed are sodium 3-(4-(2-(9H-carbazole-9-yl)ethoxy)phenyl)-2-((2-(4-(4-(2-sodium forrnate-2-((2-(4-fluorobenzoyl)phenyl)amino)ethyl)phenoxy)benzoyl)phenyl)amino)propionate, a preparation method therefor and the use thereof for quality control of a bulk drug or formulation of Chiglitazar or a derivative thereof. Particularly, the compound can be used as a control substance or standard substance for the detection of impurities/related substances in Chiglitazar or a sodium salt drug thereof.