The invention discloses an agricultural greenhouse film with a high light conversion rate, and a making method thereof, and relates to the technical field of greenhouse film production. The agricultural greenhouse film is composed of an external layer film, a middle layer film and an internal layer film. The making method of the agricultural greenhouse film comprises the following steps: respectively weighing raw materials of the external layer film, the middle layer film and the internal layer film, fully and uniformly mixing the raw materials, adding the obtained mixture to a three-layer co-extrusion film blowing machine, heating, extruding, blow-molding, carrying out upper traction, carrying out lower traction, and reeling to form the agricultural greenhouse film. Organic rare earth elements are added to the greenhouse film made in the invention, so the photosynthesis intensity of crops is obviously improved, the crops have the characteristics of fast growth, good fructification, many products, precocity, yield increase and good quality, and the problems of likely mist droplets, low light transmittance, poor oxidation resistance and short service life of general greenhouse films are solved.