The invention discloses a preparation method of a pellet binder with high performance, and belongs to the technical field of a metallurgy pellet binder. The method comprises the following steps: weighing 35-42 parts of bentonite, 5-8 parts of active lime, 2-4 parts of polyethylene glycol and 2-3 parts of polyester resin according to the mass ratio, evenly mixing to obtain a mixture A; weighing 1-2 parts of coal ash, 5-9 parts of agglomerate sieve residue and 1 part of zirconium oxide according to the mass ratio, evenly mixing with the mixture A, so as to obtain a mixture B; weighing 4-7 parts of starch, 1-3 parts of salt, 1-3 parts of polyurethane and 2-4 parts of phenolic resin according to the mass ratio, and evenly mixing to obtain a mixture C; evenly mixing the mixture B with the mixture C, so as to obtain the binder. By adopting the preparation method of the pellet binder with high performance, wastes of iron and steel enterprises are recycled, the burnt rate is low, the metallurgical performance of the pellet is improved, the grade of the charged ore is improved, the slag quantity of ironmaking and smelting by a blast furnace is reduced, and the fuel consumption is reduced. Therefore, the method has good economic benefits.