Chemically initiated oxidative polymerization stands out as the most suitable method for the large‐scale and controllable synthesis of perfluoropolyether (PFPE). However, the mechanism and related reaction kinetics of this synthesis reaction remain elusive. In this study, PFPE was synthesized through the copolymerization of hexafluoropropylene and oxygen, initiated by fluorine. Subsequently, the synthesis mechanism of this chemically initiated oxidative polymerization was first explored using density functional theory. Simulation results yielded a comprehensive reaction network of the synthesis process, including chain initiation, propagation, decomposition, transfer, and termination. Meanwhile, a detailed kinetic model was constructed based on theoretical reaction rates of relevant elementary reactions. The effects of reaction operating conditions on the molecular weight of PFPE were experimentally investigated, with results in good agreement with the kinetic model. This work stablishes a solid foundation for optimizing and controlling the PFPE synthesis process.