The invention relates to a preparation method of pearlescent anti-crease waterproof moisture-permeable polyurethane synthetic leather. The preparation method comprises the steps: weighing raw materials of a surface layer, mixing activated carbon, nitrocellulose, a dried color material, a pearl powder and colored plastic particles, then grinding, adding a proper amount of an acetic acid solution and polyurethane, adjusting the pH to be neutral, carrying out freeze drying, then grinding, adding the remaining raw materials, and stirring, to obtain a surface layer slurry; evenly coating release paper with the surface layer slurry, and drying to form a surface layer; weighing raw materials of a middle layer, mixing expanded graphite, quartz sand, magnesium oxide and aluminum hydroxide, then calcining the mixture, adding a stripping agent BYK-325, then treating for 1-2 h, cooling, then adding boric acid and wood powder, grinding, adding the remaining raw materials, and stirring to obtain a foaming layer slurry; mechanically foaming the prepared foaming layer slurry, then evenly coating the surface layer with the foamed foaming layer slurry, and drying; coating the foaming layer with a water-based polyurethane adhesive slurry, bonding with a base cloth layer, and then drying; and peeling off the release paper, trimming, rolling, and thus obtaining the synthetic leather finished product.