The invention provides octade carbonyl tributyl citrate plasticizer and preparation method thereof. The composition of octade carbonyl tributyl citrate plasticizer (in mass percent): tributyl citrate 43.5-53.8%, octade carbonyl chloride 45.2-55.0%, catalyst 1.0-1.5%. The preparation method comprises: (1) adding citric acid, butylalcohol, water-carrying agent and catalyst into reaction kettle, stirring, heating up until reflowing to obtain tributyl citrate; (2) adding stearic acid into reaction kettle, stirring, heating up to 50 degree and then adding phosphorous trichloride and heating up to 75 degree to perform thermal insulating reaction for 3 hours and layering to obtain octade carbonyl chloride; (3) adding tributyl citrate and catalyst in the reaction kettle, stirring, heating up to 70 degree and then adding octade carbonyl chloride to obtain chlorine hydride and the chlorine hydride being absorbed in water containing soda in drier, when the pH of the water containing soda is constant, the reaction being stopped and the product being subjected to neutralizing, cleaning, pump filtering under reduced pressure to obtain octade carbonyl tributyl citrate.