The telechelic siloxane-terminated liquid fluoroelastomer was synthesized by two-steps functional group conversion method. The telechelic carboxyl-terminated liquid fluoroelastomer which was prepared by oxidative degradation method was used as raw material. First step, SOCl₂ was chosen as acylation agent, pyridine as catalyst to synthesize telechelic acyl chloride-terminated liquid fluoroelastomer. Second step, telechelic acyl chloride-terminated liquid fluoroelastomer reacted with γ-aminopropyltriethoxysilane under action of the catalyst to synthesize the telechelic siloxane-terminated liquid fluoroelastomer. The structures and Mn of the liquid fluoroelastomers were analyzed by FT-IR, ¹H-NMR, ¹⁹F-NMR and GPC; the conversion ratio of end-groups were investigated by ¹⁹F-NMR and chemical titration; the properties were texted by dynamic viscometer and TGA. Furthermore, the influencing factors such as reaction temperature and time, types and dosages of catalysts were also systematically studied. The results reveal that conversion rate of first step is about 87.2%, that of second step is about 100%. The product not only has good liquidity (78 Pa·s, 50 ℃), but also the thermal decomposition temperature increases from 241 ℃ to about 274 ℃, and the char yield is 37.79% at 800 ℃.