The invention relates to a protection-sleeve-carrying paclitaxel drug balloon and a preparation method thereof. The protection-sleeve-carrying paclitaxel drug balloon comprises a drug balloon and a paclitaxel-containing degradable drug coating which is coated on a balloon work section. The drug balloon can be used as a pre-expansion balloon, a conveying balloon and a post-expansion balloon and the drug balloon comprises a HUB protection-sleeve handle, a near-end push rod, a transition section, a far-end push rod and a head end. The coating, which is configured by the paclitaxel and a contrast agent, or which includes the paclitaxel, a degradable polymer and a solvent of trichloroethane, acetone or tetrahydrofuran, can be layeredly coated on the balloon work section. Through the arrangement of a protection sleeve, the drug balloon is, during conveying processes from entering blood vessels to reaching diseased regions, in a protection state, so that drugs on the drug balloon may not be scoured, ineffective loss is avoided, initial drug loading capacity of the drug balloon can be reduced, the treatment effect can be meet and at the same time safety of the drug balloon is greatly improved.