The invention relates to three-ingredient eutectic ionic liquid and a preparation method thereof. The three-ingredient eutectic ionic liquid consists of ILC, REC and HBD, wherein ILC is ionic liquid with chloride ions which serve as negative ions, REC is a chloridized rare-earth metal salt, and HBD is a compound with multiple hydrogen bonds. The preparation method comprises the following steps of: uniformly mixing ILC, REC and HBD according to the molar ratio of 1 to 1 to n (n= 0.5-4), heating up to the temperature of 100-140 DEG C, and then, carrying out heat preservation for 2-4 hours until a mixture is completely dissolved. According to the ionic liquid disclosed by the invention, the melting point is extremely low, the viscosity is low, the conductivity is high, the dissolution performance is good, and the rare-earth metal salt has Lewis acidity and catalysis performance, so that the ionic liquid can be widely applied to organic synthesis reaction, the preparation of nano and mesoporous materials, gas absorption and the like; and the preparation process is simple, the raw materials are readily available, the cost is low, no organic solvents are used and no toxic substances are emitted during reaction, no byproducts are produced, and the ionic liquid is biodegradable, so that the ionic liquid is suitable for industrial production.