The invention discloses a dyeing silicone oil label, comprising base papers orderly stacked, a first back adhesive layer, separation paper and face paper with information, wherein between the separation paper and the face paper, a second back adhesive layer is arranged on one side, and a dyeing silicone oil layer and a third back adhesive layer which are stacked are arranged on the other side; the outer side close to the third back adhesive layer is provided with a white ink layer. The invention also discloses a formula of the dyeing silicone oil and a method for preparing the dyeing silicone oil. In the invention, the dyeing silicone oil replaces the conventional colorless silicone oil and is coated on the part of the label separation paper which needs to be uncovered. When the improved label is illuminated, the bottom part of the label is clear in color, and whether the label is coated with the silicone oil can be differed only depending on naked eyes, so that the label quality can be conveniently tested. The invention can save manpower, reduce wrong frequency and improve working efficiency.