The invention relates to a wool-like polyester filament and a preparation method thereof. The preparation method comprises the steps: firstly, terephthalic acid, 1,4-butanediol, fluorinated diacid, hexanediol with tertiary butyl side groups, and 2,5,6,6-tetramethyl-2,5-heptanediol are evenly mixed, and then an esterification reaction and a polycondensation reaction are carried out successively toprepare modified polyester; then a modified polyester POY filament is prepared from modified polyester flux according to a POY process; and finally a modified polyester DTY filament is prepared from the modified polyester POY filament according to a DTY process, and then the wool-like polyester filament is obtained. According to a prepared product, when the temperature is 100 DEG C, the dye-uptakeis 90.32-93.27%, and the K/S value is 22.15-23.42; after the product is placed at temperature of 25 DEG C and the relative humidity of 65% for 60 months, the intrinsic viscosity of the product is lowered by 17-20%; and the preparation method is low in cost and simple in process, and the prepared product is excellent in dyeing property and high in natural degradation speed, and has great application prospects.