The invention discloses spring steel. Based on the total weigh of the spring steel, the spring steel comprises 0.56 to 0.64 weight percent of C, 1.6 to 2 weight percent of Si, 0.6 to 0.9 weight percent of Mn, 0 to 0.015 weight percent of Ti, 0.0055 to 0.03 weight percent of S, 0.01 to 0.02 weight percent of Als and the balance of Fe and inevitable impurities, wherein the weight ratio of the S to the Als is 0.55 to 3; and the Als is acid soluble aluminum. The invention also provides a preparation method of the spring steel, which comprises: subjecting the raw material of the spring steel to primarily smelting, refining, cold forming, rolling, quenching and tempering, wherein the composition of the raw material of the spring steel ensures the composition of the spring steel obtained is the same as the composition of the spring steel of the invention. The spring steel is high in fatigue resistance. The production method is simple and reduces cost.