The environmentally friendly fluorine-free fire extinguishing agent based on the silicone surfactant was developed in order to solve the environmental hazards and bio-accumulative of traditional aqueous film-forming foam (AFFF). The carboxyl modified polyether polysiloxane surfactant (CMPS) was an efficient alternative to fluorocarbon surfactant, which was firstly synthesized via the esterification reaction using hydroxyl-containing polyether modified polysiloxane (HPMS) and maleic anhydride (MA) as raw materials. Then the surface activity, foam properties, micellar morphology of the CMPS and four hydrocarbon surfactants, as well as their mixture are evaluated by surface tension, Ross-Miles and cryo-transmission electron microscopy (Cryo-TEM). And the suitable key amount of CMPS and hydrocarbon surfactants added to the extinguishing agent were optimized by orthogonal tests. Moreover, the effect of foam stabilizer on the surface activity, foam property and fire extinguishing performance of fire extinguishing agent are also analyzed. Consequently, a new environmentally friendly fluorine-free fire extinguishing agent was prepared and the surface tension, the interfacial tension, foam properties, bubble morphology, spreading behavior and fire extinguishing mechanism were systematically characterized. The Cryo-TEM results illustrate that the intense interaction among silicone and hydrocarbon molecules exists in the the mixture of CMPS and hydrocarbon surfactants, which is produced through the change of micellar morphology, i.e. microscopic larger spheroidal micelles of CMPS transited to smaller spheroidal micelles and wormlike micelles in the mixed system. The surface tension of synthesized foam extinguishing agent is 22.3 mN/m and the spread coefficient is 0.9 mN/m, which has excellent surface activity and spreading property. The prepared foam extinguishing agent exhibits superior fire-fighting property, which can be attributed to the high surface activity, good foam property and superior foam stability. The research results of this paper lay a theoretical foundation for the research and development of efficient environmentally friendly foam extinguishing agent.