The invention discloses an acylating p-hydroxyl cinnamate plasticizer as shown in formula (I) and a preparation method for the acylating p-hydroxyl cinnamate plasticizer. The preparation method for the acylating p-hydroxyl cinnamate plasticizer comprises the following steps: taking p-hydroxyl cinnamic acid and monohydric alcohol as raw materials, performing esterification reaction under action ofa catalyst or co-action of the catalyst and a water carrying agent, and treating a reaction product to obtain p-hydroxyl cinnamate; taking an intermediate p-hydroxyl cinnamate and fatty acyl chlorideas raw materials, performing acylation reaction under action of an acid-binding agent, and filtering, washing and distilling the reaction product under reduced pressure to obtain the acylating p-hydroxyl cinnamate plasticizer. The acylating p-hydroxyl cinnamate plasticizer takes a bio-based platform compound p-hydroxyl cinnamic acid from a renewable resource as a raw material, has the characteristics of being non-toxic and environmentally friendly, and is a bio-based environment-friendly type plasticizer, and has a wide development prospect. The formula (I) is shown in the description.