The invention provides a plant growth regulator for improving upper leaf enlargement, nicotine reduction and potassium increase after topping. The plant growth regulator is prepared by taking by weight, 0.001-99.990% of gibberellic acid, 0.001-99.990% of heteroauxin, malonic acid, 0.001-99.990% of 2,4-d, 0.001-99.990% of dimethylformamide, 0.001-99.990% of nonylphenol polyoxyethylene ether and 0.001-99.990% of cyclohexanone, mixing the raw materials with uniformly stirring to prepare mixed solution and mixing, by weight, 60-70% of the mixed solution and 30-40% of potassium dihydrogen phosphate buffer solution with uniform stirring. By spraying the plant growth regulator to upper tobacco leaves, the growth period of a tobacco field is shortened, upper tobacco leaf enlargement, nicotine reduction and potassium increase can be promoted, tobacco leaf output is increased, and ashy tobacco leaves after baking of the upper tobacco leaves can be decreased. Besides, the tobacco leaves are slightly loose in structure, slightly dark, slightly high in gloss and sufficient in aroma, a single upper leaf is slightly heavy, the proportion of high-quality and medium-quality tobaccos is effectively increased, and accordingly economic income of tobacco growers is increased.