The invention discloses a high-performance cutter ring material and a preparation method thereof. The preparation method comprises steps of smelting, casting, electroslag remelting, uniform annealing,forging, spheroidizing annealing, quenching, tempering and the like, and the high-performance cutter ring material is prepared through following chemical elements in percentage: 0.55-0.70% of C, lessthan or equal to 0.40% of Si, less than or equal to 0.50% of Mn, 5.30-6.75% of Cr, 2.0-3.0% of Mo, 0.60-0.95% of V, less than or equal to 0.025% of S and P and the balance of iron. A high-performancecutter ring made of the material has the characteristics of being good in toughness, high in hardness, and the like, and compared with a cutter ring made of a conventional material, the cutter ring is remarkably good in wearing resistance, high in construction efficiency, long in service life and short in construction period.