The invention relates to extinction PET fibers and a chip spinning preparation method of the extinction PET fibers. The method comprises the following steps: carrying out melt blending on a PET chip and hollow porous microspheres coated with titanium dioxide nanoparticles to prepare functional master batches and then performing melt spinning after uniformly mixing the functional master batches with the PET chip to obtain the extinction PET fibers, wherein the hollow porous microspheres mainly comprise the titanium dioxide nanoparticles and crosslinking spheres connected with the titanium dioxide nanoparticles and coating the surfaces of the titanium dioxide nanoparticles through covalent bonds, the crosslinking spheres have hollow inner parts and porous surfaces and further have crosslinking structures, and the crosslinking structures are formed by mutually crosslinking molecular chains of copolymers containing styrene and bifunctional dimethacrylate monomer structural units. The hollow porous microspheres are uniformly dispersed in the prepared fibers, and the content of titanium dioxide is 0.6 to 2.0wt% when the fibers reach the total extinction effect. The extinction PET fibersdisclosed by the invention have the advantages of simple process, good extinction effect on the prepared fibers, small addition amount of titanium dioxide, uniform dispersion and the like.