The molecular weight loss of ultra‐high molecular weight polyethylene (UHMWPE) fibers is extremely serious in comparison with raw materials due to the high temperature and strong shearing during dissolving process. In this study, decalin was introduced as preswelling solvent and the dissolving system was regulated to improve the solubility of UHMWPE in paraffin oil without severe degradation so as to prepare UHMWPE fibers with high molecular weight retention and low entanglement. UHMWPE was preswelling in decalin with different content, the mass ratio of decalin to UHMWPE were 1:1, 1.5:1, 2:1, 2.5:1, and 3:1. All UHMWPE fibers were prepared by gel‐spinning and hot‐drawing. UHMWPE fibers possess the highest molecular weight after preswelling of UHMWPE in decalin (with a mass ratio of 3:1 to UHMWPE, namely UPE/dec‐s‐3 sample). What's more, the entanglement of UHMWPE fibers gained from UPE/dec‐s‐3 sample has been observably diluted in comparation to that from UPE‐neat and other swollen samples. More importantly, the tensile strength and modulus of UHMWPE fibers obtained from UPE/dec‐s‐3 sample can reach 31.41 and 1446.26 cN/dtex, increased by 15.1% and 14.3% compared with UPE‐neat fibers, respectively. Besides, the thermal and crystallization behavior of UHMWPE fibers prepared from swollen UHMWPE have also been boosted.