The invention relates to POP produced without removing a chain transfer agent and a production method of the POP. The POP is prepared from, by weight, 1-6 parts of small molecular polyether polyol, 0.2-0.4 part of initiator, 55-75 parts of polyether polyol, 20-45 parts of polymeric monomer and 2-5 parts of stabilizer. The produced product is good in stability, low monomer content, stable and safe and environmentally friendly in reaction process, the capacity is greatly improved, the flavor and viscosity of polymer polyol are effectively reduced, and the chain transfer agent does not need to be removed in the production process.