The invention relates to the field of abrasion-resistant alloy materials, in particular to a VCp reinforced composite abrasion-resistant alloy material and a preparation method thereof. The VCp reinforced composite abrasion-resistant alloy material comprises the following components in percentage by mass: 2.0-3.2% of C, 6.5-10.5% of V, 0.5-1.5% of Si, 0.8-1.5% of Mn, 1.0-3.5% of Cr, 1.0-2.5% of Mo, 0.5-2.0% of Ti, less than or equal to 0.04% of S, less than or equal to 0.06% of P and the balance of iron. According to the VCp reinforced composite abrasion-resistant alloy material prepared by adopting the preparation method provided by the invention, the retained austenite quantity of the VCp reinforced composite abrasion-resistant alloy material and the carbon content of the retained austenite are increased, the room temperature stability is improved, and the impact toughness is improved. Meanwhile, as the carbon content of the retained austenite is increased, and the retained austenite can generate local phase transformation to form martensite under the action of external stress, so that the local hardness and abrasion resistance of base material are improved. Through the traditional technology for heating processing, the generated retained austenite quantity is relatively small, and the retained austenite is relatively low in stability due to relatively low carbon content under the action of external stress, therefore negative influences are caused to the abrasion resistance of the material.