The invention relates to an engineering plastic with high surface and high performance and preparing method thereof. The composite material comprises 30%-70% of PBT (polybutylece terephthalate) resin, 5%-15% of PETG (polyethylene terephthalate glycol), 5%-10% of LCP (liquid crystal polymer), 20%-50% of alkali-free glass fiber, 1%-5% of flexibilizer, 0.1%-1% of antioxidant, 0.1%-1% of UV (ultraviolet), 0.1%-1% of lubricant, 0.1%-1% of a coupling reagent, and 1%-3% of carbon black master batches. By adding PETG (polybutylece terephthalate), the surface of the prepared material is enabled to be smooth and free of floating fibers. By adding a liquid crystal polymer, the degree of crystallinity and the heat distortion temperature of the material are increased. The preparing method comprises the steps of after putting PBT (polybutylece terephthalate), PETG (polyethylene terephthalate glycol), LCP (liquid crystal polymer) and auxiliaries according to a certain proportion into a high mixing machine to mix for 2-5 min, firstly pouring the mixture into a main feeding opening of a twin-screw extruder, then making a glass fiber enter the twin-screw extruder from a glass fiber opening or a side feeding opening, extruding the glass fiber by the twin-screw for bar stretching, and finally carrying out water cooling, air drying and grain-sized dicing, wherein the temperature in the granulation process should be controlled at 180-240 DEG C, and the screw rotation speed should be controlled at 300-400 RPM. The engineering plastic with high surface and high performance has the advantages of being good in mechanical properties, smooth in surface, free of floating fiber, resistant to heat and weather and the like, and is applicable to the fields of automobile parts and, mechanical parts and the like.