The invention discloses low-silver copper based high-performance brazing filler metal. The low-silver copper based high-performance brazing filler metal is prepared from the following raw materials inpercentage by mass: 1.5-2.5% of Ag, 6.5-7.5% of P, 0.5-1.5% of Sn, 0.01-2% of Ni, 0.001-0.1% of Si, 0.01-0.05% of Ce and the balance of copper and inevitable impurities, wherein purity of each raw material is 99.9% or higher. A preparation method for the low-silver copper based high-performance brazing filler metal comprises the following steps of: separately preparing Ni and Cu, P and Cu, Si andCu and Ce and Cu into intermediate alloys in specific proportions; then, sequentially adding metal Cu, Cu-P, Cu-Ni, Cu-Si and Cu-Ce to melt, and adding Sn and Ag after metal is completely molten; andimmediately adding borax after adding is completed, and performing post-treatment to obtain the low-silver copper based high-performance brazing filler metal. Production cost is greatly reduced, improved brazing filler metal is high in mechanical strength and is strong in production process, and a joint is attractive in appearance and is excellent in shearing strength; according to use feedback of a user, braze-welding process performances are excellent, the braze-welding joint is stable in quality, fatigue performance is good, the service life of the braze-welding joint can be effectively prolonged, and BCu80AgP braze-welding can be replaced.