The invention discloses a transition metal fluoride-doped composite hydrogen storage material. The material is prepared through mixing and mechanically ball-milling LiBH4, LiNH2, MgH2 and transition metal fluoride. The initial hydrogen desorption temperature of the material is 90-100 DEG C, the second-step hydrogen desorption temperature is about 150 DEG C, hydrogen desorption is mainly completedat 180-200 DEG C, and the composite hydrogen storage desorbs 6.5-7.0 wt% of hydrogen when heated to 200 DEG C. A preparation method of the material comprises the following steps: 1, weighing raw materials; and 2, carrying out a ball-milling process to prepare the composite hydrogen storage material. The composite hydrogen storage material has the following advantages: 1, the hydrogen desorption temperature is low, and the amount of hydrogen desorption heat is large; 2, the hydrogen desorption quantity is large; 3, the induction period in a second-step hydrogen desorption process used as the speed control step in the hydrogen desorption process is greatly shortened, the second-step hydrogen desorption temperature is reduced, the hydrogen desorption processes in two steps are coordinated, the hydrogen desorption reaction rate is fast, and the dehydrogenation kinetics performance is good; and 4, the cost of raw materials is low, and the synthesis method has a simple process. The preparation method has a certain application prospect in the field of hydrogen storage materials.