The invention provides a waste plastic woven bag ribbon-like filament which comprises raw materials including a PP (polypropylene) and PE (polyethylene) mixed waste material and a master batch, wherein the master batch comprises a carrier resin, packing, a dispersant, a moistening agent, a coupling agent, a toughening agent and a ratproof agent; the ratproof agent is a mixture of ratproof, a camphor extract and a folium artemisiae argyi extract and is supported in folium artemisiae argyi and chitosan as packing components. The invention further provides a method for preparing the woven bag ribbon-like filament from waste plastic. The method comprises the following steps: preparing the master batch, treating the waste plastic, mixing blending materials, performing extrusion molding, cooling, shredding, performing heating molding, and coiling, wherein the step of preparing the master batch comprises a step of supporting the ratproof agent in bentonite and chitosan. As waste plastic is effectively utilized, the waste plastic woven bag ribbon-like filament provided by the invention is beneficial to environmental protection, and is good in mechanical property and ratproof effect.