The invention belongs to the technical field of packaging materials, and particularly relates to a high-performance light-weight PE heat shrinkage film and a preparation method thereof. The PE heat shrinkage film comprises a corona layer, a first secondary outer layer, a middle layer, a second secondary outer layer and a heat sealing layer, wherein the formula of the corona layer is basically the same as that of the heat sealing layer, and the formula of the first secondary outer layer is the same as that of the second secondary outer layer. According to the invention, a five-layer film blowing symmetrical structure formula is adopted, a particle formula and process parameters are reasonably designed, so that the performance difference caused by thickness reduction is made up, the packaging requirements of customers are met while the weight is reduced, and the whole packaging material has the advantages of being small in thickness, high in transverse and longitudinal shrinkage rate, high in clamping force, free of springback, high in tensile strength and high in puncture resistance and tearing resistance; the optical performance is good; and the film has the advantages of moderate and stable dynamic and static friction coefficients, favorable thickness uniformity, favorable flatness, favorable printing adaptability and favorable heat-sealing stability and is suitable for automatic packaging equipment, and a packaged product has favorable fitting property and neat bull eyes.