The invention discloses a modified polytetrafluoroethylene fiber and a preparation method thereof, in particular to a polytetrafluoroethylene fiber with an antistatic function and a preparation method thereof. The fiber comprises the following components by weight percent: 98.5-99.5% of polytetrafluoroethylene and 0.5-1.5% of nano carbon fiber powder. The preparation method of the fiber comprises the following steps of preparation, blending, oil addition, compaction, extruding, rolling, sintering, drafting, splitting, carding, winding, curling, sizing and chopping so as to obtain a chopped fiber. The invention has the beneficial effects that as long as the polytetrafluoroethylene fiber with an antistatic function contacts with an escaping approach, the charge generated by the fiber can be released in time, thereby enabling the fiber to have no static electricity charges or reduce the static electricity charge quantity. In the preparation method in the invention, because the nano carbon fiber is added, the mesh interspace among the polytetrafluoroethylene molecules is filled, the fiber strength is improved, and the physics plastic deformation property of the polytetrafluoroethylene is effectively improved, thereby enabling the fiber to have creep resistance. The finished product obtained by the method is the fiber with the functions of anti-static electricity, creep resistance and high strength; and the self-deashing capability of the polytetrafluoroethylene is improved by adding the nano carbon fiber powder in the method.