The invention relates to a mining temperature reduction coolant and preparation method thereof. The invention takes macromolecular compound polyvinyl alcohol as basic raw material, cross-linking agent in certain proportion is added, wherein the cross-linking agent is 10% borax solution and the like; then freezing point temperature reduction auxiliary agent is added to prepare gel-like coolant, the prepared coolant is injected into a forming container and is frozen and formed in an icehouse the temperature of which is lower than minus 15 DEG C, and then the formed coolant is unfrozen at room temperature and is filled into a packaging bag. The mining temperature reduction coolant of the invention has the following characteristics: (1) elasticity and flexibility are good, comfortable sensation can be obtained when human body touches the coolant; (2) cold accumulation material has major latent heat of phase change and appropriate phase change temperature; (3) the coolant can be repeatedly used, can not be cataklastic, can not contract and can produce no separated water; (4) the coolant can be in close contact with human body when in use, and refrigeration effect can be fully played; (5) no toxin, odour or pollution is produced; (6) cold insulating plate and cold insulating bag of the outer packing of the coolant has the function of 'environmental protection and high efficiency cold insulation heat preservation'.