The invention provides a flame-retardant thermal-insulating polyester fiber curtain and a preparation method thereof. The curtain includes a polyester fiber base cloth and a flame retardant coating layer, the flame retardant coating layer is made from the materials of waterborne polyurethane emulsion, polyvinyl alcohol, tributyl phosphate, anionic surfactant, coupling agent, ultraviolet absorbent, triethanolamine, glass fiber, filler, defoaming agent, ammonium phosphate and water. The preparation method comprises the steps that firstly waterborne polyurethane emulsion, polyvinyl alcohol, tributyl phosphate, anionic surfactant, coupling agent, ultraviolet absorbent, triethanolamine, glass fiber, filler, defoaming agent, and ammonium phosphate are added into water, ultrasonic dispersion and grinding are conducted, and then coating is conducted on the polyester fabric, and after glue spraying and drying, the polyester fiber curtain is prepared. The flame-retardant thermal insulation polyester curtain has good flame-retardant and thermal-insulating properties and feels comfortable and soft.