The invention relates to novolak phenolic resin microspheres and a preparation method thereof, and belongs to the field of chemical synthesis. The microspheres consist of the following components in part by weight: 80 to 100 parts of absolute ethanol, 95 to 105 parts of phenol, 100 to 115 parts of formaldehyde, 6 to 12 parts of triethylenetetramine, 2 to 6 parts of boric acid and 1 to 1.75 parts of polyvinylpyrrolidone. The method comprises the following steps of: sequentially feeding the reactants with heating, reacting for a certain period of time, cooling, discharging, precipitating, performing centrifugal separation, and drying. The novolak phenolic resin microspheres prepared by the method have high dispersibility, have the particle size of 5 to 50mu m, are easily mixed with other aids uniformly, have the thermal decomposition temperature of more than 450 DEG C after being cured, and have high toughness, moisture absorption property and strength; and the preparation process is short, easy to operate and low in cost, and products can be used for an organic friction material, a molding compound, a grinding wheel bonding material, a thermal insulation material, a fireproof material and the like, so the microspheres can replace the traditional phenolic resin.