The invention discloses hydrophilic polyethylene hollow fiber microporous membrane and preparation process thereof. Said membrane is characterized in that it mainly comprises polyethylene, amphoteric copolymer containing polyethylene oxide, and inorganic nano particles. The membrane preparing process is carried out based on thermally induced phpase separation and surface segregation principles, comprising the steps of (1) preparing membrane blank by fusion and blending of amphoteric copolymer containing polyethylene oxide, diluent, and inorganic nano particles; (2) preparing hollow fiber membrane precursor by hollow process spinning of membrane blank in molten state; (3) extracting diluent in hollow fiber membrane precursor by using organic solvent to obtain said hydrophilic polyethylene hollow fiber microporous membrane, wherein the porosity of said membrane is between 40% and 80%, and average pore diameter is between 0.1mum and 5.0mum. The microporous membrane in the invention has the characteristics of high hydrophilicity, narrow pore size distribution, high strength, and good chemical stability, and serves as micro-filtration and ultra-filtration membrane material with high performance, low cost, pollution resistance, and long serve life for water treatment.