The invention relates to an alpha + beta type two-phase titanium alloy for an aero-engine fan blade and a preparation method of the alpha + beta type two-phase titanium alloy for the aero-engine fan blade. The preparation method of the alpha + beta type two-phase titanium alloy for the aero-engine fan blade comprises the following steps that S1, the following chemical components are obtained: 4.2%-5.6% of aluminum, 7.5%-8.8% of vanadium, 0.18%-0.24% of oxygen, less than or equal to 0.5% of iron, less than or equal to 1% of niobium, 0.4%-0.8% of silicon, less than or equal to 0.05% of carbon, less than or equal to 0.05% of nitrogen, less than or equal to 0.015% of hydrogen and the balance of titanium and impurity elements; S2, the titanium alloy cast ingot is subjected to first-stage upsetting and drawing; S3, under the conditions of the preset temperature and the preset deformation amount, after reversing is conducted, second-stage upsetting and drawing are conducted on the titanium alloy cast ingot; S4, the titanium alloy cast ingot is heated to the temperature above the phase transformation point, and then the titanium alloy cast ingot is subjected to third-stage upsetting and drawing; S5, the titanium alloy cast ingot is heated to the temperature below the phase transformation point, then fourth-stage upsetting and drawing are conducted on the titanium alloy cast ingot, and a titanium alloy material is obtained; and S6, the titanium alloy material is subjected to heat treatment. The preparation method is applied to the technical field of titanium alloys.