Phosphate ester compound of hydroxy acid substituted phenyl ester preparation method and medical use thereof are provided. The title compound is shown in formula (I) in which Y = C1-4 straight carbon chain M1 and/or M2 = H alkali metal ion protonated amine or protonated amino acid. The compound has good water solubility and high stability in its aqueous solution and it can release 2 6-diisopropylphenol rapidly under the action of enzymes in vivo which has the effects of sedation hypnosis and/or anesthesia. By protecting hydroxyl of 2 6-diisopropylphenol in compound of formula (I) the first-pass metabolic activity of 2 6-diisopropylphenol is reduced so that the synthetic compound can be used for sedation hypnosis and/or anesthesia.
