The invention provides a trithiocarbonate chain transfer agent which is prepared from the components of sodium hydroxide, absolute ether, alkyl hydrosulfide, carbon disulfide, dehydrating agent, maleic anhydride and a catalyst. The invention also discloses a preparation method of the trithiocarbonate chain transfer agent, comprising: mixing the above components according to the set ratio, filtering after stirring, and drying by distillation to obtain the trithiocarbonate chain transfer agent. The trithiocarbonate chain transfer agent can be used for the reversible addition cracking link transfer radical polymerization of acrylate monomers, styrene monomers, acrylate monomers and vinyl acetate monomers, and can prepare homopolymer and copolymer with definite structure and narrow molecular weight distribution. According to different kinds of used alkyl hydrosulfide, the trithiocarbonate chain transfer agent can be hydrophilic or oleophilic, so that the trithiocarbonate chain transfer agent can be suitable for different polymerizing monomers and dissolvents, and can be suitable for technologies, such as solution polymerization, emulsion polymerization, dispersion polymerization, bulk polymerization and the like.