The invention relates to a preparation method of phenyl silicone oil. The method includes: mixing diphenyl cyclosiloxane with dimethyl cyclosiloxane according to certain proportion, adding an alkali catalyst to undergo copolymerization under certain temperature, then raising the temperature to 250-350DEG C, conducting cracking to obtain diphenyl-dimethyl cyclosiloxane, determining the proportions of a dimethyl chain link and a diphenyl chain link therein, mixing the diphenyl-dimethyl cyclosiloxane, an end-capping reagent, a catalyst or other cyclosiloxane and a promoter uniformly in proportion, carrying out polymerization under certain temperature, then deactivating the catalyst, conducting post-treatment, and removing low molecules, thus obtaining the target product phenyl silicone oil. The method provided by the invention can be used for preparing a variety of phenyl silicone oil, the obtained phenyl silicone oil has high quality and excellent transparency, and can be applied to optical packaging materials, personal care, lubricating oil and other fields.