The invention provides a conductive flame-retardant polyester, which is prepared from the following materials in parts by weight: 120 to 150 parts of tetrathiafulvalene-modified polyester fiber, 20 to40 parts of nitrogen-phosphorus-boron flame retardant, 10 to 15 parts of dispersant, 1 to 5 parts of p-toluenesulfonic acid and 20 to 30 parts of oxidant. Besides the excellent inherent properties ofpolyester material, such as high strength, good elasticity, good shape preservation property and high dimensional stability, the conductive flame-retardant polyester prepared by the invention has antistatic property and flame-retardant property, and therefore can be applied in fields, such as special clothing, having a broad application prospect.