The invention discloses a novel synthesis method of fingolimod hydrochloride. The method comprises the following steps of: 1, reacting a compound (5) with a sulfhydryl compound under alkaline conditions to generate a key intermediate product (6); 2, performing oxidation reaction on the product (6) to generate a sulfonyl compound (7); 3, performing Knoevenagel condensation reaction on the sulfonylcompound (7) and a raw material aldehyde group compound (8) under the alkaline conditions to obtain a key intermediate (9); and 4, performing hydrogenation reduction reaction on the intermediate (9) and performing amino group deprotection simultaneously to prepare 5-amino-5-[2-(4-n-octylphenyl)ethyl]-2,2-dimethyl-1,3-dioxane; and performing acetonylidene deprotection in diluted hydrochloric acid and salifying simultaneously to obtain a target compound fingolimod hydrochloride (1). In the method, raw materials are readily available, reaction conditions are mild, aftertreatment is convenient, and the method is high in yield, low in cost, environmentally-friendly, and high in utilization value in industrial production.