The invention provides a high-speed low-load basalt fiber-reinforced frictional material with moderate frictional coefficient and a preparation method thereof. The high-speed low-load basalt fiber-reinforced frictional material comprises the following components in percentage by mass: 5-9% of basalt fibers, 15% of steel fibers, 4-10% of mineral fibers, 10% of acrylonitrile-butadiene rubber phenolic resin, 10% of barium sulfate, 8% of iron ore, 3% of alumina, 6.25% of white mica, 5% of vermiculite, 14% of petroleum coke, 3.75% of frictional powder and 12% of graphite. The preparation method comprises the following steps of: preparing raw materials, carrying out manual stirring, carrying out mechanical stirring, carrying out secondary manual stirring, carrying out secondary mechanical stirring, and carrying out hot press moulding and curing, so that the basalt fiber-reinforced frictional material is obtained. Excellent properties of the basalt fibers are utilized, expensive aramid fibers are replaced by cheap fibers, the high-speed low-load basalt fiber-reinforced frictional material has the advantages of stable frictional coefficient in high temperature working environment, relatively low wear rate and good heat fading resistance, the wear resistance and pressure-bearing capacity of the material are improved, the cost is reduced, the hardness is moderate, and requirements of the frictional material can be better met.