The invention belongs to the technical field of special steel forge piece and heat treatment, and particularly relates to a low-cost electroslag remelting hot-working die steel material and a preparing method thereof. The hot-working die steel comprises, by weight percent, 0.35 to 0.40% of C, 0.10 to 0.30% of Si, 0.30 to 0.50% of Mn, 4.80 to 5.50% of Cr, 1.60 to 1.80% of Mo, 0.40 to 0.60% of V, not larger than 0.015% of P, not larger than 0.005% of S, not larger than 0.25% of Cu, not larger than 0.25% of Ni, not larger than 2ppm of [H], not larger than 20 ppm of [O], not larger than 120 ppm of[N] and the balance Fe and inevitable impurities. The forge piece impact toughness reaches above 20 J after component adjusting according to the above range from the common forge piece V port impactsmaller than 14 J, meanwhile, the early cracking resistance is greatly improved, a made mold is adjusted to reach above 10 times from the original time being short of 50000 times, in the preparing process, the water cooling superrefining treatment is adopted, the grain structure of the large-specification mold is obviously improved, the ASTM comparison method is used for measuring, the grain sizereaches above 6 stages, and the spheroidized structure reaches above AS5 stage in the North American die casting association standard NADCA#207 chart.