The invention relates to a preparation method of a yellow and green hue chromium oxide green pigment. The dichromate and ammonium salt as raw materials are supplemented by a small amount of additives, subjected to wet mixing, and calcined at 900-1200 DEG C for more than 0.3 h; and the product is subjected to washing, drying and crushing to obtain the yellow and green hue chromic oxide green pigment. The dichromate is preferably sodium dichromate or potassium dichromate, the ammonium salt is preferably ammonium sulfate or ammonium chloride, and the additive is preferably organic matters such as starch and urea. The chromium oxide green pigment prepared by the method provided by the invention has grain size of about 200-300 nm, uniform size, greener and yellower than the existing product, and has good stability.