A peelable protective film having perfect adhesion for providing temporary protection to objects is disclosed, which protective film having a peel strength ranging between 35 and 100 g/cm is capable of being easily peeled off from an adhered object and without leaving any residual adhesive; a composition containing a vinyl chloride-vinyl acetate copolymer, a high-molecular-weight emulsified, polymerized PVC powder, a low-molecular-weight emulsified, polymerized PVC powder, a trimellitate plasticizer, a diisobutyrate-based plasticizer, a phenol-free Ca—Zn stabilizer, fumed silica, aluminum hydroxide, barium sulfate and calcium carbonate is so suited for making the peelable protective film having a thixotropic index ranging between 2.00 and 2.20.