The invention discloses an RFID authentication method for an elliptic hyperbola-based public key encryption mechanism. According to the method, key distribution is carried out by using an elliptic hyperbola DH theory, a generation system of fresh keys is constructed, communication data between encryption entities of the fresh keys is used for ensuring the randomness and unpredictability of a datastream, and a secure communication channel between a label and a reader is established; communication entities store a public key and private key pair generated by the elliptic hyperbola theory, and identity authentication between the entities is realized in a digital signature mode, so that the effectiveness of the authentication is ensured; and after the security authentication is realized, a session key used for encrypting the data is generated, so that sensitive data interaction between the entities is facilitated. Common security threats such as mutual authentication, anonymity, reliability, forward privacy, location privacy, man-in-the-middle attack, counterfeit attack and the like can be prevented, and a distribution function of the session key is provided, so that the security andprivacy of the channel between the label and the reader are ensured.