The invention belongs to the technical field of hot-rolled ribbed steel bars for reinforced concrete structures, and particularly relates to an acicular ferrite type high-strength steel bar and a preparation method thereof. Steel in the steel bar comprises the following chemical components in percentage by weight: 0.25 to 0.35 percent of C, 0.40 to 0.80 percent of Si, 1.40 to 1.80 percent of Mn, less than or equal to 0.030 percent of P, less than or equal to 0.030 percent of S, 0.02 to 0.04 percent of Nb, 0.09 to 0.15 percent of V, 0.15 to 0.45 percent of Cr, 0.010 to 0.019 percent of N and the balance of Fe and inevitable impurity elements. Under the condition of existing process equipment of a production plant, the acicular ferrite type high-strength steel bar is prepared by adopting a high C, Si and Mn component design and a V and Nb combined microalloying mode and combining a rolling self-tempering process, the 700MPa-grade reinforcing steel bar with excellent comprehensive performance is produced on the premise of keeping material ductility, the yield strength of the 700MPa-grade reinforcing steel bar is greater than or equal to 700MPa, the tensile strength is greater than or equal to 830MPa, the percentage elongation after fracture is greater than or equal to 14%, the total elongation under the maximum force is greater than or equal to 9%, the anti-seismic performance is good, and the requirements of high-rise and large-span anti-seismic structures are met.