The invention discloses a shielding film with a high heat-conducting coefficient. The shielding film comprises a PET insulating layer, a metal layer, a wave absorbing layer and a release material layer, wherein a first adhesive layer is arranged between the PET insulating layer and the metal layer, and a second adhesive layer is arranged between the metal layer and the wave absorbing layer; the wave absorbing layer comprises the following components in parts by weight: 100 parts of wave absorbing powder, 25-35 parts of butyl acrylate, 12-15 parts of acrylic acid, 20-35 parts of 2-ethylhexyl acrylate, 10-30 parts of methyl methacrylate, 1-3 parts of vinyl acetate, 0.1-1 part of methacrylic acid-2-hydroxy ethyl acrylate, 0.5-2 parts of sodium polyacrylate and 0.4-1 part of methyl ethyl ketone peroxide; the wave absorbing powder comprises the following components in parts by weight: 100 parts of barium ferrite powder, 18-25 parts of nickel sesquioxide, 8-12 parts of nano graphite powder, 8-12 parts of cobalt chloride, 60-70 parts of unsaturated polyester and 40-50 parts of sodium dodecyl benzene sulfonate. The shielding film disclosed by the invention has the advantages that the over concentration of heat is avoided, the benefit for heat dissipation is achieved, the upwarping of the film due to temperature rise is also avoided and the stability of the performance of a product is improved.