The invention discloses weather-resistant and flame-resistant light-diffusion PC applicable to outdoor lampshades and a preparation method of the weather-resistant and flame-resistant light-diffusion PC. The weather-resistant and flame-resistant light-diffusion PC is prepared by, by weight percentage, 81.25-90.17% of PC, 5-15% of toughening agent, 0.8% of light diffusion agent, 1.5-2.5% of flame retardant, 0.4-0.6% of synergic-effect flame retardant, 0.1-0.5% of hydrolysis-resistant agent, 0.1-0.5% of anti-UV agent, 0.03-0.05% of pigment, 0.3% of antioxidant and 0.3% of dispersing agent. The light-diffusion PC has the advantages that the light-diffusion PC is good in flame-retardant effect and weather resistance, indoor and outdoor use requirements can be satisfied, the light-diffusion PC is high in light permeability, good in toughness and ideal in appearance color, and consumers' requirements on lamps can be satisfied.