The invention discloses a preparation method of expansible graphite modified high-flame-retardant rigid polyurethane foam. The preparation method includes the steps that firstly, white materials are prepared, wherein polyester polyol, polyether polyol, structural flame retardant polyether polyol, foam homogenizing agents, liquid fire retardant, fermentation catalysts, gel type catalysts, trimerization catalysts and water are evenly mixed, then graphite is added, foaming agents are added to the evenly mixed mixture, and the white materials are obtained; the prepared white materials are mixed with black materials according to the mass ratio of 1:1.5-1.8, the mixture is stirred and injected into a constant-temperature die for foam aging, and the rigid polyurethane foam is obtained, wherein the black materials are polyisocyanates. By means of the preparation method of the expansible graphite modified high-flame-retardant rigid polyurethane foam, the oxygen index of the rigid polyurethane foam is raised, the combustion performance can reach the non-combustible level, the mechanical strength and size stability are good, and the heat conductivity coefficient is low; compared with a similar product in the market, a great price advantage is achieved, and machining and forming are easy; the added fire retardant is free of volatility, not prone to being separated out, low in toxicity and durable in flame retardant effect.