The invention relates to alcohol-based liquid fuel. The fuel comprises the following raw materials in parts by weight: 80 to 85 parts of methyl alcohol, 5 to 10 parts of water, 1 to 2 parts of petrol, 1 to 3 parts of sodium hydroxide, 1 to 3 parts of castor oil, 3 to 8 parts of jatropha carcas fruit oil, 2 to 5 parts of edible oil, 1 to 3 parts of essence, 1 to 5 parts of industrial salt, and 1 to 5 parts of ethyl alcohol. The fuel has the characteristics that the fuel does not produce poisonous gas when being burnt and is odor-free; the fuel can be completely burnt, the heat value produced through burning is high, the flash point of the fuel can be reduced, the fuel can be easily ignited, can be completely burnt, does not produce poisonous gas, and is low in cost, economical and practical, and green and environmental-friendly.