The invention relates to a fluorescent poly arylene ether nitrile multipolymer and a preparation method thereof, which belong to the technical field of high polymer materials. The preparation method comprises the following steps: using 2, 6- dichlorobenzonitrile, phenolphthalein and phenolphthalein as raw materials and N-pyrrolidone as solvents for carrying out dehydration reaction for 2 to 5 hours at 140 to 160 DEG C under the effect of catalysts and dehydration agents, raising the temperature to 180 to 200 DEG C for reaction after the dehydration agents are evaporated out, stopping the reaction when a pole climbing phenomenon occurs, crushing precipitates obtained through primary precipitation of reagents via precipitating agents, acidifying the precipitates by dilute hydrochloric acid, washing the precipitates by boiling water, filtering and drying the precipitates to obtain crude products, dissolving the crude products by dimethylformamide, filtering the solution, and obtaining the fluorescent poly arylene ether nitrile multipolymers after filtering and drying the precipitates after the secondary precipitation of filter liquid via the precipitating agents. The invention has the advantages that raw materials can be easily obtained, the reaction condition can be easily realized, the production process is easy to control, no secondary reaction and no byproduct are generated in the polymerization process, and the prepared fluorescent poly arylene ether nitrile multipolymer has good fluorescence performance, thermal stability, mechanical property and self fire resistance and belongs to a novel high-heat-resistance fluorescent polymer.