The invention relates to an ultrahigh-mobility propenyl elastomer grafting copolymer and a preparation method thereof. The copolymer comprises the following components in percentage by weight (wt%): 50-100wt% of propenyl elastomer resin, 0-50wt% of polyolefin resin, 0.5-5wt% of grafted monomer, 0.01-2wt% of initiator, 0.1-1wt% of crosslinking inhibitor, 0.1-1wt% of antioxygen and 0.1-2wt% of liquid accessory ingredient, wherein other components except the initiator are mixed in a high-speed mixer at a certain ratio and are added into a double-screw extruder by main feeding; the initiator is added into the extruder by side feeding; and a product is obtained by fusing, plastifying, kneading, mixing, extruding from a handpiece, bracing, cooling, pelletizing and drying. Compared with the prior art, the ultrahigh-mobility propenyl elastomer grafting copolymer disclosed by the invention has the advantages of higher product grafting ratio, lower gel content, excellent comprehensive performance and excellent impact performance by the side feeding technology, and is especially suitable for thin-wall products and large producing pieces in the fields, such as interior / exterior trim parts ofautomobiles, bumpers, railway equipment and the like.