The present invention is applicable to the field of material technology, and provides a PEF heat-shrinkable film, including an outer film layer, an intermediate film layer, and an inner film layer; wherein, the outer film layer and the inner film layer are made of the following raw materials in parts by weight Ingredients: 40-55 parts of high-pressure low-density polyethylene, 15-25 parts of high-density polyethylene, 10-15 parts of ethylene-vinyl acetate copolymer, 5-10 parts of polyurethane acrylate, 5-10 parts of modified clay, oleic acid 4-6 parts of amide and 2-5 parts of antioxidant; the intermediate film layer is made of the following raw materials in parts by weight: 25-35 parts of high-pressure low-density polyethylene, 20-30 parts of high-density polyethylene, ethylene- 10-15 parts of vinyl acetate copolymer, 2-6 parts of modified silicon dioxide, 4-6 parts of oleic acid amide, and 1-3 parts of antioxidant; the present invention uses non-toxic and widely sourced raw materials to compound PEF Heat shrinkable film is not only stable in appearance, but also has good physical and mechanical properties such as heat shrinkage rate, tensile properties, and tear strength. It is suitable for packaging and transportation of items including but not limited to food, electronic products, etc., and has good development prospects.