The invention relates to an organic phosphonate concrete plastic retaining agent and a preparation method thereof. The preparation method comprises the following steps: by taking the following components as synthetic monomers: 12-20 percent of sodium hypophosphite, 3-8 percent of styrene, 12-18 percent of unsaturated dicarboxylic acid, 18-26 percent of (methyl) hydroxyalkyl acrylate and 28-45 percent of 2-acrylamide-2-methyl propane sulfonic acid (AMPS), performing aqueous solution polymerization under the action of an initiator, thereby synthesizing an organic phosphonate copolymer. The hydroxyalkyl ester, carboxyl, acylamino, sulfo group and the like introduced into the molecular structure have a certain delayed coagulation effects and good plastic retaining effects. According to the invention, the aqueous solution normal-pressure production is adopted, the equipment requirement is low, the operation is convenient, the method is environmentally friendly, the industrial production is promoted, and the product does not contain chloride ions and does not have corrosion damage to steel bars in the concrete.