The invention relates to a radiation refrigeration fiber, a preparation method thereof and an application of the fiber. The radiation refrigeration fiber comprises a base and functional fillers fixedly distributed in the base, the mass percent of the functional fillers in the radiation refrigeration fiber is 1%-17%, the linear density of the radiation refrigeration fiber is 0.3dtex-10dtex, the radiation refrigeration fiber can reflect visible light and near-infrared light, and heat is emitted by an atmospheric window in an infrared radiation mode. The visible light and near-infrared light reflectivity of a radiation refrigeration fabric prepared from the radiation refrigeration fiber is higher than or equal to 60%, and the emissivity of 7-14 micrometers is higher than or equal to 80%. Therefore, the radiation refrigeration fabric can be further used for preparing textile products such as clothes, curtains, tents, sunshades, hats, scarves, car covers and hoods with cooling requirements,comfort and breathability of the textile products are kept, cooling can be realized by the aid of the textile products, comfortable feeling is increased, energy consumption is omitted, energy is saved, and environments are protected.