The invention provides an environment-friendly chlorofluorocarbon-free refrigerant and a preparation method thereof. The refrigerant is prepared from propane, propylene, cyclobutane, 2,3,3,3-tetrafluoropropene, trans-1,3,3,3-tetrafluoropropene, trifluoromethyl iodide, pentafluoromethyl iodide, difluoromethane, tetrahydrothiophene, liquid carbon dioxide and cryogenic lubricant. The refrigerant has the beneficial effects that the ODP value is zero, the ozone sphere cannot be destroyed if the refrigerant is used for a long time; the GWP value of raw materials is low, and the working pressure of the refrigerant is equivalent to that of R22, so that an existing refrigeration system need not to be modified, the production cost can be reduced, while the refrigeration effect is not reduced; the refrigerant has the effects of inhibiting combustion and explosion, so that the combustibility of the refrigerant can be reduced, and the safety can be improved; the lubricant can seep into each part of a compressor together with the refrigerant so as to create an excellent condition for engine lubrication; tetrahydrothiophene is easily dissolved in difluoromethane and has a strong unpleasant smell, so that when the refrigerant leaks, a user can feel leakage of the refrigerant at the first time and carries out corresponding measures, so that property and safety of people can be protected.