The invention provides a coaxial double-waveguide optical fiber capable of generating vortex light and a toroidal field, and a preparation method of the coaxial double-waveguide optical fiber. The optical fiber comprises a cladding layer 1, a central round less-mode fiber core 2, a spiral fiber core 3 and a toroidal fiber core 4, wherein the less-mode fiber core 2 is located in the center of the cladding layer 1; the spiral fiber core 3 surrounds the less-mode fiber core 2; and the toroidal fiber core 4 is overlapped with the axis of the less-mode fiber core 2. On one hand, due to periodic perturbation of the spiral fiber core 3, a low-order linear polarization mode (such as an LP11 mode 5) of transmission of the less-mode fiber core 2 can be converted into a high-order phase vortex mode,and a vortex light beam 6 is generated at an optical fiber end. On the other hand, when a Gaussian light field 7 (or the toroidal light field) is input to the toroidal fiber core 4 in a coupled manner, a toroidal transmission mode can be excited in the toroidal fiber core 4, and finally the toroidal light field 8 is output at the optical fiber end. The optical fiber can be prepared through a direct hot melting, rotating and wiredrawing method or a wiredrawing, hot melting and rotating method. The optical fiber can be applied to the fields of vortex light beam and toroidal light beam generationand transmission, optical communication, optical sensing, optical manipulation and the like.