The invention discloses high-performance environment-friendly type water-borne polyurethane. The high-performance environment-friendly type water-borne polyurethane is mainly prepared from the following materials in parts by weight: 80-100 parts of polyester polyol, 20-56 parts of aliphatic diisocyanate, 3.5-10 parts of hydrophilic chain extender, 0-8 parts of micromolecule chain extender, 0.01-0.05 part of environment-friendly type catalyst, 5-30 parts of solvent with a low boiling point, 3-12 parts of neutralizer, 0-10 parts of post chain extender and 160-400 parts of deionized water. The invention further discloses a preparation method of the polyurethane. The polyurethane is free of toxic and harmful substances including an organic tin catalyst, N-methylpyrrolidone, a solvent with a high boiling point and the like, capable of satisfying the requirements of latest EU environmental standard rules, anti-yellowing, extremely good in water and heat resistance, good in adhesion resistant adhesion, strong in storage stability, good in gloss, high in solid content and excellent in comprehensive performance.