The invention provides a method for synthesizing unsaturated polyester resin by utilizing PET. The method comprises the following steps that 1, glycerol, dihydric alcohol with the boiling point exceeding 210 DEG C, waste PET and a catalyst are added and stirred at the speed of 250-300 r/min, under nitrogen protection, the temperature is raised to 210 DEG C to carry out a heat preserving reaction, after alcoholysis is carried out on PET completely, the temperature continues to be kept for 1-2 h, and cooling is carried out; 2, the temperature is lowered to below 150 DEG C, unsaturated dicarboxylic anhydrides, monohydric alcohol and residual dihydric alcohol with the boiling point lower than 210 DEG C are added, the temperature is raised to 150 DEG C-155 DEG C for carrying out the heat preserving reaction for 0.5 h, then the temperature is raised to 195 DEG C-200 DEG C step by step to carry out the constant temperature reaction, when the water yield reaches 85-90% of the theoretical amount, vacuumizing is carried out to force water to be drained, and the reaction is carried out until an acid value is smaller than 25 mgKOH/g; 3, the temperature is lowered to 155 DEG C-160 DEG C, a proper quantity of polymerization inhibitor is added, styrene is used for diluting, and cooling and filtering are carried out to obtain a finished unsaturated polyester resin product. According to the method, after being cured, the prepared resin has good toughness and physical strength, overcomes the defect of poor solubility of polyester and styrene, and is economical and environmentally friendly.