The invention belongs to the technical field of metallurgy, and particularly relates to a non hardened and tempered state hot-rolled steel strip with yield strength higher than 900MPa and a preparation method of the hot-rolled steel strip. The non hardened and tempered state hot-rolled steel strip comprises the chemical components in percentage by weight: 0.06-0.12% of C, 0.10-0.30% of Si, 0.80-1.20% of Mn, 0.00-0.04% of Nb, 0.00-0.04% of V, 0.02-0.10% of Ti, 0.8-1.20% of Cr, 0.10-0.30% of Mo, 0.001-0.003% of B, less than 0.012% of P, less than 0.01% of S, and the balance of Fe, and has the yield strength not less than 900MPa, tensile strength not less than 940MPa, and elongation at break not less than 12%. The preparation method comprises the steps of: smelting molten steel according to the set components, casting into cast blank, heating the cast blank, carrying out rough rolling and finish rolling, cooling the steel strip to 200-450 DEG C after finish rolling, coiling, carrying out hot rolling, carrying out offline tempering at the tempering temperature of 400-600 DEG C, and delivering in the hot-rolled state or hot-rolled and offline tempered state. According to hot-rolled steel strip provided by the invention, the hardening and tempering heat treatment process is not needed, so that the production cost is greatly lowered.