The invention provides a gasoline engine piston expansion ring and a preparation method thereof. In order to keep the expansion ring elastic at high temperature, use iron powder, graphite, ferrosilicon powder, ferromanganese powder, etc. to prepare matrix components, add graphite, MoS2, CaF2 as lubricant, and add WC, TiC, VC, Cr3C2 as hard phase Improve the wear resistance, add V and Mo as alloy elements to improve the high temperature performance of the expansion ring, add Cu powder to improve the heat dissipation performance of the expansion ring, and prepare the expansion ring through powder mixing, pressing, sintering, grinding, and opening. This method can produce expanded rings in near-net shape, and only needs simple grinding and opening treatment after sintering. The process is short and the cost is low; there are no casting defects such as porosity, shrinkage cavity, composition segregation, and coarse lamellar structure. Uniform and fine microstructure, easy to add alloy elements, lubricating components, hard phase particles, excellent performance; in addition, the process has high stability and repeatability, and can realize batch continuous production.