The invention discloses a PTT based flame retardant and antistatic masterbatch, which comprises the following components by mass: 15%-40% of PTT resin, 20%-30% of PSPPP, 15%-30% of polydimethylsiloxane, 5%-15% of antimony trioxide, 0.5%-2% of polytetrafluoroethylene, 8%-15% of POE, 5%-10% of an antistatic agent, 0.5%-2% of an antioxidant, and 0.5%-5% of a dispersant. The antistatic agent is one or more of polyethylene oxide, polyether ester amide, polyether ester imide, glycerol monostearate and polyether ester amide compound. When applied to a PTT production process, the PTT based flame retardant and antistatic masterbatch has excellent flame retardant, toughening and antistatic modification effects when the mass fraction is 5%-15%, and has the advantages of good machinability, convenient use, low cost, strong adaptability, simple preparation process, and easy industrial production, popularization and application.