Disclosed herein is a method of preparing a high-melting point flame retardant crystal, comprising the steps of: reacting 9,10-dihydro-9-oxa-10-phosphaphenanthrene-10-oxide with 1,4-naphthoquinone in an inert solvent having a dielectric constant of 10 or less to reduce a content of by-products, thereby obtaining a reaction composition; and dissolving the reaction composition in any one solvent selected from the group consisting of ethyleneglycol, propyleneglycol, diethyleneglycol, cyclohexanone, benzyl alcohol, acetate ester, benzoate ester and a mixture thereof to recrystallize and refine the reaction composition, thereby obtaining high-melting point retardant crystal, represented by Formula 1, having a start melting point of 280° C. or more and a melting point of 291° C. or more, which are measured by differential thermogravimetric analysis.