The invention provides a wet type polyurethane resin, a production process and an application method thereof. The production process mainly comprises the following steps: 1, carrying out a soft-segment synthetic reaction on macromolecule dihydric alcohol and diphenyl methane diisocyanate; 2, enabling a first prepolymer to react; 3, adding a chain extender, and carrying out hard-segment synthetic reaction; and 4, adding an auxiliary. The wet type polyurethane resin manufactured by the production process is in form of yellowish transparent and thick viscous fluid, has viscosity of 180,000 to 220,000 (cps / 25 DEG C), modulus of 100% under 4.5 to 5.5 Mpa, elongation of not less than 550% and strippability of not less than 12.0kg / 3cm, the hydrolysis resistance is that 10% of NaOH is hydrated for 24 hours, and the wet type polyurethane resin has texture formation of 50 to 65%. The production process has the advantages that the texture formation, peeling strength and hydrolysis resistance of the wet type polyurethane resin are improved; the auxiliaries are selected before forming the leather, so that the density of the wet type polyurethane resin is improved, the finished artificial leather has washing durability and is high in strippability and full in touch.