The present invention discloses an intersection signal time assignment method with a contraflow variable lane. The method comprises the following steps: 1) arranging a contraflow variable lane intersection ring structure signals phase sequence design; 2) determining the saturation flow of a contraflow variable lane; 3) setting contraflow variable lane intersection signal time assignment parameter calculation; 4) controlling the determination of variable constraint conditions; 5) constructing and solving a cooperation optimized objective function; and 6) outputting optimal signal control schemes. The intersection signal time assignment method with a contraflow variable lane fully considers the influence of arrangement of a variable lane on vehicles at an intersection, the signal phase sequence design is performed based on a ring structure, the minimum of the average vehicle delay time at the intersection and the contraflow variable lane starting time are taken as optimal targets, a cooperation optimized model of the contraflow variable lane control parameters and signal time assignment parameters is established, and an optimal contraflow variable lane and signal time assignment scheme is searched in the operation safety constraint condition so as to realize the maximum control benefit in the condition of the maximum safety of the contraflow variable lane.