The invention belongs to the technical field of polyvinyl chloride sheets, and particularly relates to a colored polyvinyl chloride foamed sheet and a preparation method thereof. The colored polyvinyl chloride foamed sheet consists of a core layer, an upper surface layer and a lower surface layer, wherein the core layer is prepared from polyvinyl chloride resin I, a calcium-zinc stabilizer, an organic tin stabilizer, a cell stabilizer, a vulcanizing agent, an assistant cross-linker, a composite extender, a lubricant and a composite foaming agent; the upper surface layer and the lower surface layer are made of same raw materials, and each of the upper surface layer and the lower surface layer is prepared from polyvinyl chloride resin II, an organic tin stabilizer, a function regulator, a reinforcing agent, a lubricant, an impact modifier and a cool pigment. The colored polyvinyl chloride foamed sheet has the characteristics that the sheet is high in weather resistance, environment-friendly and good in rigidity, does not deform when heated, does not discolor and the like and can be applied to fields of high-grade advertisements, baking varnish or natural color home decoration, ornament, furniture manufacturing and the like. The preparation method is simple and easy to implement.