The invention discloses as-cast high pearlite quantity and high vermicular rate vermicular graphite cast iron and a preparation method thereof. The vermicular graphite cast iron is prepared from the following components by weight percent: 3.5-3.8% of C, 2.2-2.4% of Si, 0.8-1% of Mn, 0.2-0.4% of Cu, 0-0.4% of Mo, 0.08-0.1% of Sn, 0.2-0.4% of Cr, 0.2-0.5% of Ni, 0.05-0.1% of Nb, less than or equal to 0.06% of S, less than or equal to 0 .06% of P, and the balance of Fe and impurities introduced by raw materials. The vermicular graphite cast iron with a high creep rate (90-98%) is obtained by using an Mg-RE creeping method for controlling; furthermore, by means of micro-regulation of multiple alloy elements, the vermicular graphite cast iron with a high high pearlite quantity (90%-100%) can bestably obtained; the tensile strength of the vermicular graphite cast iron is greater than or equal to 500MPa, the elongation of the vermicular graphite cast iron is greater than or equal to 1.5%, Brinell hardness of the vermicular graphite cast iron is 230-260HBW, and the microhardness of pearlite is 300-320HV. The vermicular graphite cast iron provided by the invention has the characteristics of being good in mechanical properties, thermal fatigue resistance, thermal crack resistance and wear resistance under the extremely harsh working conditions; the preparation method is simple in control method and can stably produce castings with excellent comprehensive performance, thus being suitable for industrial mass production.