The invention relates to a method for preparing a frictional reducing polymer, frictional reducing polymer particles and application. The method for preparing the frictional reducing polymer comprisesthe following steps of mixing, wherein olefin monomers and an inert solvent are mixed, and a mixture system is obtained; polymerization, wherein in the presence of a catalyst system, the mixture system carries out a polymerization reaction, and polymerizate is obtained. The method for preparing the frictional reducing polymer is simple, an aftertreatment processing process is simplified, and theprepared frictional reducing polymer has good frictional reducing and transportation increasing performance. Furthermore, when the frictional reducing polymer particles prepared through the preparation method are adopted for preparing frictional reducing polymer suspension liquid, the frictional reducing polymer particles do not need to be subjected to low-temperature smashing, and the prepared frictional reducing polymer suspension liquid can be stably stored for 3 months or longer.