The invention discloses an environment-friendly polyurethane adhesive, and a preparation method and applications thereof. The environment-friendly polyurethane adhesive comprises a polyurethane resin A component, a polyurethane resin B component, and a catalyst. The polyurethane resin B component comprises isocyanate 1 and isocyanate 2, wherein the isocyanate 1 is isophorone diisocyanate, and the isocyanate 2 is one or more of m-xylidenediisocyanate (XDI), hexamethylene diisocyanate (HDI) trimer, and 1,5-naphthalene diisocyanate (NDI). The catalyst is a mixture of a delaying catalyst and a low temperature thermal sensitive catalyst. The problem of bad yellowing resistant performance of conventional adhesives is prominently improved. The heatproof property, flexibility, and hydrolysis resistant performance of finished products of adhesive are all enhanced. Moreover, the provided adhesive is environment-friendly and degradable, and can be easily recovered and utilized. The resources are saved, the operability of the adhesive is improved, and the curing time of the adhesive is shortened.