The invention discloses an automobile continuously variable transmission fluid and a preparation method thereof. The automobile continuously variable transmission fluid comprises the following components: 100 parts by weight of class III base oil, 1-3 parts by weight of antiwear agent, 5-15 parts by weight of viscosity index improver, 0-1 part by weight of pour point depressant, 0.5-2.5 parts by weight of alkaline earth clearing agent, 2-6 parts by weight of dispersant, 0.5-1 part by weight of antioxidant, 1-4 parts by weight of friction modifier and 0.01-0.05 part by weight of anti-foaming agent. According to the invention, the chosen additives are optimally combined together to obtain the CVTF, and the obtained CVTF has excellent comprehensive properties; the CVTF is excellent in viscosity index, oxidation stability, shear stability, wearing quality and cryogenic property, and more critically, large in torque, high in traction coefficient and high in transmission efficiency; and consequently, the use requirements of B-CVT and T-CVT can be met simultaneously.