The invention discloses a biodegradable plastic film which respectively comprises the following raw material components in parts by weight: 80 parts of polyethylene, 20-40 parts of polylactic acid, 60-80 parts of a PBM degradable material, 10-15 parts of a filling material, 5-8 parts of Pullulan, 2-4 parts of an antioxidant and 1-1.5 parts of an ultraviolet light absorber. The oxygen-isolating and biodegradable plastic film provided by the invention has the advantages that the mature modified starch biodegradable plastic master batch PBM, the Pullulan and film-level LDPE in the market are selected to be subjected to blending extrusion and film blowing in the preparation method at present, the characteristics of LDPE are utilized, and good mechanical property of the film is guaranteed; by utilizing the biodegradability of PBM and Pullulan, the environment friendliness of the film material is realized; by utilizing high oxygen isolating property of the Pullulan, the oxygen isolation property of the film material is improved; by utilizing the structural similarity of the starch and Pullulan serving as saccharides, the overall compatibility of the plastic film material is improved; and moreover, the blending ratio of the LDPE/PBM/Pullulan system is controlled, so that the oxygen isolation property, the biodegradability and the like can be regulated.