The invention discloses an efficient and environment-friendly refining agent for cotton fabric. The refining agent comprises components in parts by weight as follows: 10-20 parts of nano tea saponin, 5-8 parts of alkyl glycoside, 6-10 parts of calcium chloride, 3-7 parts of chitosan, 8-15 parts of cellulose, 6-12 parts of pectinase, 4-8 parts of rosin, 4-7 parts of purple perilla, 2-6 parts of sodium citrate, 1-3 parts of ammonia water, 1.5-3 parts of diatomaceous earth, 2-5 parts of an emulsifier, 3.5-6 parts of polyoxyethylene sorbitan monolaurate, 1-3 parts of a dispersing agent, 1.5-2 parts of a defoaming agent and 20-30 parts of deionized water. The invention further discloses a preparation method of the efficient and environment-friendly refining agent for the cotton fabric. The refining agent has good permeability, high emulsifying ability, high detergency and good high-temperature resistance, acid-base resistance and biological degradability, the strength of the treated fabric is not reduced, the treated fabric touches soft and comfortable, the preparation conditions are mild and the production cost is low.