The invention relates to 
high activity hydroxy terminated polyepichlorohydrin polylol with simple preparation technology and good color, and the preparation method thereof. The 
high activity hydroxy terminated polyether has the molecular structure including a large quantity of 
methylene lateral chloro groups and terminated by 
epoxy ethane or 
propylene oxide, and the 
high activity hydroxy terminated polyepichlorohydrin polylol has the average relative molecular 
mass of 500-9000 and the average 
hydroxide radical functionality of 2-3. The preparation method comprises the following steps: low molecular 
mass initiator and dual-
metal prussiate complex compound catalyst are added in a pressure-proof reaction kettle, volatile components are removed in a vacuumed mode, part of 
epoxy chloropropane are added in the low molecular 
mass initiator and dual-
metal prussiate complex compound catalyst, all the reactants are heated to 100-140 DEG to react under the 
nitrogen protection and the high-speed stirring, and the rest part of 
epoxy chloropropane is added gradually drop by drop after the activation; after the 
polymerization reaction is finished, the temperature is reduced to 90-120 DEG C, 
propylene oxide or epoxy ethane is added drop by drop for end capping, and 
residual monomer is removed in a vacuumed way after the reaction, thus the hydroxy terminated polyepichlorohydrin polylol is obtained.