The invention discloses a high-gloss and low-volatility flame retardant polycarbonate composition as well as a preparation method and application thereof. The polycarbonate composition consists of the following components: 100 parts of PC resin, 5-30 parts of acrylonitrile butadiene styrene (ABS) resin, 5-20 parts of a phosphate fire retardant, 0-20 parts of glass fiber, 0.5-2 parts of a high-gloss additive, 0.5-2 parts of fennelflower, 0.3-1 part of an anti-dropping agent and 0.1-2 parts of an additive. The preparation method comprises the steps of mixing the PC resin, the ABS resin, the high-gloss additive, the anti-dropping agent, the fennelflower and the additive in a high-speed mixer for 1-2min to obtain a premix; melting and extruding the premix through a dual-screw extruder; laterally feeding the phosphate fire retardant and the glass fiber, and implementing secondary vacuum pelleting to obtain a finished product. The flame retardant polycarbonate composition disclosed by the invention, through the high-gloss additive, improves gloss thereof, and simultaneously avoids remarkable change in mechanical performance, flowing property and flame retardant performance; the prepared flame retardant polycarbonate composition is high in gloss, good in fluidity, low in volatile content and excellent in mechanical performance, and is applicable to such electronic appliances as television and computer frame as well as products having requirement on high gloss such as automobile.