The invention relates to a colored flame retardant charring agent tetraPEPA oxy-p-benzoquinone compound and a preparation method thereof. The structure of the compound is shown as the following formula in the specification. The preparation method includes: in a reactor equipped with a stirrer, a thermometer and a high-efficiency reflux condensation tube, adding a proper amount of an organic solvent and tetrachloro-p-benzoquinone, then adding a PEPA sodium salt that is 4-5 times the mole of tetrachloro-p-benzoquinone, performing heating to 100-160DEG C, carrying out heat preservation reaction for 6-9h, performing pumping filtration, removing sodium chloride, cooling and crystallizing the filtrate, and conducting filtering and drying, thus obtaining the reddish brown colored flame retardantcharring agent tetraPEPA oxy-p-benzoquinone. The compound provided by the invention has excellent flame retardant and charring properties, also has coloring effect, and is suitable for use as a flameretardant charring agent and coloring agent for nylon, polyester, polyurethane, rubber, polyolefin, unsaturated resin and other materials. Also the preparation method has the characteristics of one-step reaction, simple process and low equipment investment, and is easy to realize industrial production.