The invention provides a method for preparing ester terminated allyl alcohol polyether, which has simple process and realizes diversity of ester terminated allyl alcohol polyether monomer structure. The method for preparing the ester terminated allyl alcohol polyether comprises the following steps: allyl alkyl acid ester is used as initiator and ternary metal oxide is used as catalyst to ensure that oxirane and/or propylene epoxide perform a ring-opening polymerization reaction at 100-140 DEG C under the pressure of 0.1 to 0.6MPa; the ester terminated allyl alcohol polyether can be obtained after the catalyst is filtered and removed, wherein the ternary metal oxide catalyst is prepared from soluble salt of Mg, Al and Ca through alkaline precipitation and calcination. The preparation process is simple without using organic solvent, can be completed in one step by continuously adding materials in the same reactor. The prepared ester terminated allyl alcohol polyether monomer molecule has diverse structures, adjustable amphipathic property and controllable molecular weight, and can be polymerized with multiple unsaturated monomers.