The invention discloses a high strength and high extending nodular iron casting and a preparation method thereof. The high strength and high extending nodular iron casting comprises, by mass percentage, 3.1-3.3% of C, 4.1-4.3% of Si, 0<Mn<=0.2%, 0<P<=0.05%, 0<S<=0.02%, 0<Cu<=0.05%, 0<Sn<=0.01%, 0.03-0.045% of Mg, 0<Cr<=0.05%, 0<Ti<=0.05%, 0<Ni<=0.02%, 0<Al<=0.04%, 0<Mo<=0.03%, 0<Co<=0.01% and thebalance Fe and trace elements. The preparation method comprises burdening, fusing, detecting whether the content of components is qualified or not, nodulizing and inoculating, casting, cooling and heat treatment. The nodular iron casting can achieve both high strength and high extending performance.