The invention discloses a vegetable oil polyol preparation method by using a continuous method. The vegetable oil polyol preparation method comprises the following steps: firstly mixing oxydol and organic acid, adding a catalyst and a stabilizing agent, simultaneously pumping vegetable oil and mixed solution into a micro-channel modular reactor, maintaining reaction residence time for 5-18 min, performing reaction at normal pressure with the temperature of 65-130 DEG C, still standing a reaction product for liquid separation, collecting oil phase to be washed to neutral by using a Na2CO3 solution, and then performing liquid separation and rotary evaporation to obtain the vegetable oil polyol. The vegetable oil polyol preparation method provided by the invention can be operated continuously, and in the process, two steps of epoxidation and ring-opening are integrated into one step, so that the preparation process is simple, easy to control, high in safety, short in reaction time, low in energy consumption and low in pollution, can weaken side reaction, further has the characteristics of simple production device, easiness in assembly and disassembly, and convenience in carrying and moving, can be adjusted by simply increasing or decreasing the number of micro-channels for regulation, and can avoid 'amplification effect' generated in similar industrial production.