The invention discloses an Al-Fe-Cu-Mg aluminum alloy for cables for coal mines, which comprises 0.2-1.1% of Fe, 0.01-0.4% of Cu, 0.01-0.4% of Mg, 0-0.1% of Si, 0-0.2% of B, and the balance of Al and impurities, wherein the electrical resistivity of the aluminum alloy is not greater than 0.028264 Omega.mm<2>/m, the elongation at break is not less than 10%, and the number of times of 90-degree fatigue bending is greater than or equal to 30. An aluminum alloy cable is prepared by the steps of melting, casting and rolling the aluminum alloy material so as to obtain an aluminum alloy rod, carrying out drawing, bunch-stranding and softening on the aluminum alloy rod so as to obtain an aluminum alloy cable core, and carrying out extruded insulation, cabling, extruded sheathing or armoring on the cable core; and the prepared aluminum alloy cable has the characteristics of high strength, high electric conductivity, good bending performance and the like, and can satisfy the requirements on the properties of cables in the field of coal mines.