The invention provides a AB5 type negative hydrogen storage material prepared by the rapid hardening band method, wherein, the atom proportions comprise: Mm1-zDyZnI3.55Co0.75-x-yFexCuyMn0.4Al0.3, in which the x + y ranges from 0-0.7, the z ranges from 0-0.039, the Mm is rare-earth compound formed by La, Ce, Pr and Nd elements etc., the weight of rare-earth compound Mm is selected as standard, the weight of La is 64.5-67.5 %, the weight of Ce is 22.0-24.0 %, the weight of Pr is 2.5-3.5 % and the weight of Nd is 7.0-9.0 %. The cooling rate of used rapid hardening band method is decided by the controlled linear speed 1-3 m/s of rotating surface of cooling roll and the thickness of product 0.2-0.5. Since the invention utilizes the rapid hardening band method, selects the correct cooling rate, uses a little rare-earth element Dy, and replaces the element Co with the more cheaper element Fe and Cu, the alloy can keep excellent active property, electrochemical charging and discharging capacity and cycle life, while the cost is reduced markedly.