The invention provides a preparation method of vanadium oxytrichloride and vanadium oxytrichloride obtained by using the preparation method. The method comprises the following steps of adding potassium metavanadate into concentrated hydrochloric acid to react, wherein the molar ratio of potassium metavanadate to HCl in concentrated hydrochloric acid is 3.0-5.0; filtering a reaction product to obtain a vanadium-contained solution; distilling and condensing the vanadium-contained solution to obtain vanadium oxytrichloride liquid. The mass percentage of HCl in concentrated hydrochloric acid is larger than 30%; the purity of potassium metavanadate is needed to be larger than 99%; the reaction temperature is 50-100 DEG C; the reaction time is 30-120min; the distillation temperature is 70-95 DEG C, and the distillation time is 100-300min. The vanadium oxytrichloride has the advantages of high vanadium yield up to more than 80% (even 95%), environment friendliness and no pollution; in addition, the preparation method is simple and easy in process, low in equipment requirement, convenient to operate, wide in application range and low in cost.