The invention relates to halogen-free flame retarding and glass fiber reinforced resin and its preparation method. The reinforced resin comprises the following components by weight percent (wt%): 30-75 of PBT (poly(butylene terephthalate)) resin, 0-50 of alkali-free glass fiber, 8-15 of a halogen-free fire retardant, 0-10 of a toughening agent, 0.2-0.6 of an anti-oxidant, 0-1 of a compatibilizer,and 0.5-1 of a processing aid. The preparation method consists of the steps of: conducting surface treatment to alkali-free glass fiber with a coupling agent, and adsorbing the halogen-free fire retardant on the surface of the alkali-free glass fiber, drying the PBT resin, and mixing it with the toughening agent, the anti-oxidant, the compatibilizer and the processing aid and placing the mixture in a double-screw extruder, adding alkali-free glass fiber in the downstream of the extruder, and carrying out fusing, mixing, extruding, cooling, drying and granulating, thus obtaining the product. The reinforced resin of the invention has the advantages of no halogen, low smoke, environmental protection, good flame retarding effect, and good disperse effect of the halogen-free fire retardant in a resin matrix. When heated, the halogen-free fire retardant can form a uniform, porous, expanded and compact carbon layer, which cooperates with the glass fiber so as to prevent the diffusion of heat, combustible volatile substances, and the like.