The invention discloses a high-gloss colorful pearlescent PET master batch. The high-gloss colorful pearlescent PET master batch comprises, by weight, 75-85 parts of PET, 8-15 parts of PMMA, 3-8 partsof a toner, 0.2-3 parts of a scraping resistant agent and 0.1-0.5 part of a lubricant. A preparation method of the high-gloss colorful pearlescent PET master batch comprises the following steps: rawmaterials are weighed according to above weight part proportions, are added into a high-speed mixer, and are uniformly stirred, the obtained mixture is added into a homodromous double screw extruder,and is blended, extruded and drawn, the obtained mixture is pelletized to obtain a preliminary master batch, and the preliminary master batch is dried to obtain the finished master batch. Compared with the prior art, the preparation method prepares the high-gloss colorful pearlescent PET master batch with a face pearl-like gloss without adding pearl powder; and he pearlescent master batch has theadvantages of good dispersibility and tinting strength, dust-free and environmentally-friendly processing and using process, simple manufacturing technology, low production cost and wide uses.