A grate plate of a pellet traveling grate and a preparation method thereof relate to a structural technology of the grate plate of the traveling grate in the iron and steel smelting pellet technology. The preparation method comprises the following steps: hot-melting the alloy formed by C, Si, Mn, Cr, Mo, W, Ni, Al, V, P and S elements, pouring in the casting box formed by moulding sand, curing agent, silane and resin, cooling, demoulding, quenching at 1000-1100 DEG C, and finally tempering to prepare the grate plate of the pellet traveling grate, wherein the plate body of the grate plate is provided with at least two rows of long through-holes, and the through-holes at the four corners of the plate body are provided with connection ribs which are vertical to the length direction of the through-holes. Therefore, the fracture resistance, fatigue resistance, oxidation resistance, heat resistance and wear resistance of the product are enhanced, the expansion coefficient is reasonable, and the service life is up to 16-18 months. As the grate plate of the invention has good overall performance, needs a little repair and saves the raw material, the labor intensity of users and the production cost are significantly reduced so as to realize efficient, energy-saving and environmentally friendly production.