The invention discloses a preparation method of a field-induced nonlinear conducting composite material, a prepared composite material and an application thereof and relates to the field of nonlinearconducting composite materials. The preparation method comprises the following steps: taking KH560, ethanol and deionized water to obtain a solution A; adding GO into the solution A to react for 3-5 hours at 75-85 DEG C to obtain a suspension B; adding alkali into the suspension B till the pH is 10, adding hydrazine hydrate to be dispersed, heating the mixture to 85-95 DEG C to react for 5-7 hoursto obtain a suspension C, washing, suction filtering and drying the filter cake to obtain RKGO powder; mixing the RKGO powder, epoxy resin E-51 and acetone to obtain a suspension D, carrying out a reaction at 75-85 DEG C till the acetone is volatilized fully and cooled to 45-50 DEG C, adding a 2-ethyl-4-methylimidazole liquid to react, and extracting bubbles to be cured to obtain a composite material, wherein the RKGO filling mass fraction in the composite material is 0.75-1.50%. The preparation method is simple, low in cost, short in reaction time and easy to prepare massively. The preparedcomposite material is light in weight, good in uniformity and high in conducting nonlinear coefficient, and can be used in the fields of overvoltage protection, lightning stroke and surge protection,static prevention and self-adaptive electromagnetic pulse protection.