The invention relates to a low-cost and high-performance SPA-H hot rolled steel coil and a preparation method thereof. The low-cost and high-performance SPA-H hot rolled steel coil comprises, by mass, 0.07%-0.095% of C, 0.25%-0.35% of Si, 0.38%-0.48% of Mn, 0.085%-0.105% of P, 0.007% of S or the less, 0.25%-0.35% of Cu, 0.08%-0.20% of Ni, 0.50%-0.60% of Cr, 0.015%-0.045% of Als and the balance Fe and inevitable impurities. The preparation method comprises the steps of composition design, hot metal pretreatment, converter smelting, ladle furnace treatment, continuous casting, hot continuous rolling, laminar cooling and reeling, and the SPA-H hot rolled steel coil is obtained. The SPA-H hot rolled steel coil has excellent plasticity and toughness, cold processing performance is improved, the problem of bending cracking of large deformation in the using process of the SPA-H steel coil is avoided, quality objections are reduced, and comprehensive performance of SPA-H steel is improved.