The invention provides an antimicrobial and mildew resistant preservative film and a preparation method thereof. The preservative film comprises the following raw materials in percentage by weight: 30-65% of a polymer, 3.5-12% of a natural antibacterial agent, 1.5-3% of sand sagebrush seed oil, 1.5-3% of cuttlefish bone, and 1.5-3% of glyceryl monooleate; the raw materials are subjected to various processing means to prepare the preservative film, and the prepared preservative film is bright, transparent, soft, thin and light, not only has excellent mechanical strength, ageing-resistant performance, good stretchability and tearing property, but also has the effects of being broad in antifungal spectrum, uniform in distribution, highly efficient, durable and safe, effectively inhibits the growth and reproduction of various malignant bacteria, fungi and mould, and at the same time, shows better barrier property, gas permeability, moisture-penetrability and gas replaceability, and automatically and persistently emits far infrared rays, so as to achieve the functions of purifying the environment, eliminating peculiar smell, self-cleaning and resisting mildew; besides, the preservative film provided by the invention can be directly used for storing various food, prolonging the preservation time, and has a broad application prospect.