Belonging to the field of perfluoropolyether lubricant synthesis, the invention discloses a synthesis method of perfluoropolyether lubricant base oil. The method is realized by the steps of: (1) synthesis of perfluoropolyether acyl fluoride; and (2) decarbonylation end capping for synthesis of perfluoropolyether oil. The method can endow the perfluoropolyether with a conversion rate up to 95% or above and a high average relative molecular mass, after end capping, perfluoropolyether oil with high stability, oxidation resistance and other properties can be obtained. According to the method, no diluent is added in the perfluoropolyether synthesis process, the process is relatively simple, and the cost is low. At the same time, precious transition metal halide salt or dangerous antimony pentafluoride are not used as the decarbonylation catalyst in the end capping reaction, instead a conventional nitrate is employed, and is low in cost, easy to recover, and suitable for industrial production. At the same time, compared with the conventional production process carried out at a temperature ranging from -30DEG to -60DEG C, the method is carried out at a temperature ranging from 0 to -30DEG C, under the circumstance of equal output, the production cost is significantly reduced.