The invention discloses a halogen-free environment-friendly flame-retardant modified thermoplastic polyester resin. The thermoplastic polyester resin comprises the following components in parts by weight: 5-95% of polyester resin, 0.1-30% of calcium hypophosphite, 0-10% of halogen-free flame-retardant additive, 0.5-10% of one or more of processing aid, thermal and process stabilizing agent, ultraviolet stabilizer, antidripping agent, pigment, releasing agent, rubber elastomeric polymer and nucleating agent and 0-50% of inorganic filler. The product provided by the invention has favorable halogen-free flame-retardant performance, particularly favorable thermal resistance at 775 DEG C under the length of 1.6mm and the thickness of 0.8mm according to the UL94 standard, excellent mechanical property, particularly good impact strength and elasticity modulus and favorable stretchability and electrical property and can pass a CTI (Computer Telephony Integration) value under the condition of 600V.