The invention relates to anti-yellowing carbon dioxide based polyurethane leather resin and leather slurry containing the resin. The resin is characterized in that the resin is of a molecular structure in a formula I as shown in the description, wherein R is one of the structures shown in the description: R1 as shown in the description and R2 is shown in the description; in the formula, x, y and n are integral numbers; x is greater than or equal to 6 and less than or equal to 43; y is greater than or equal to 5 and less than or equal to 42; and n is greater than or equal to 8 and less than or equal to 40. The leather slurry consists of the following ingredients in parts by weight: 80-120 parts of anti-yellowing carbon dioxide based polyurethane leather resin, 1-2.7 parts of surface active agents, 0.4-1 part of defoaming agent, 0.3-0.9 part of flatting agent and 130-180 parts of dimethyl formamide. The leather resin and the leather slurry have the beneficial effects that a polyethyleneglycol adipate structure is introduced to a backbone structure of the prepared leather resin, so that the mechanical property of the polyurethane leather resin is further improved.