The invention provides a preparation method of a low-melting-point PBT copolyester fiber, which comprises the following steps: butanediol is used as a raw material, a direct esterification method is adopted, dibasic acid and dihydric alcohol monomers with the molar ratio of 1:1.5-1:2.5 are simultaneously added, esterification, prepolymerization and polymerization reaction are carried out under theaction of a catalyst, and the PBT copolyester with the melting point ranging from 140 DEG C to 190 DEG C is prepared, wherein the esterification reaction and the prepolymerization reaction are carried out in two stages. The prepared PBT polyester is subjected to melt spinning after being dried, and is subjected to oiling, balancing, winding and drafting after being cooled. According to the preparation method of the low-melting-point PBT copolyester fiber,, dibasic acid and dihydric alcohol monomers are simultaneously added in the polymerization process of the PBT, and the esterification and prepolymerization reaction processes are carried out in stages, so that the melting point of the PBT is reduced, the fluidity of the PBT melt is improved, the toughness of the PBT is increased, the impact strength is improved, the prepared low-melting-point PBT polyester fiber has the advantages of low modulus, high elasticity and good hand feeling, and can also be used as a substitute adhesive torealize the bonding function.