The invention discloses an iron-based wear-resistant 
composite material and a preparation method thereof. The preparation method comprises the following steps: preparing an iron-based wear-resistant 
composite coating on the surface of an iron-based 
alloy matrix material by using iron-based composite 
powder by using a 
laser cladding method to obtain a composite body; 
polishing and cleaning the surface of the composite body; then carrying out 
laser shock, and surface enhancement treatment of the iron-based wear-resistant 
composite coating is achieved; performing cyclic heat treatment on the composite with the surface subjected to 
laser shock to eliminate 
residual stress; and the iron-based composite 
powder is obtained by uniformly mixing micron La2O3 
powder, micron Al2O3 powder and micron FeCrNiSiB powder, carrying out 
liquid nitrogen circulation subzero treatment and 
drying, and the iron-based composite powder contains the following components in percentage by 
mass: 0.05%-10% of the micron La2O3 powder, 0.1%-45% of the micron Al2O3 powder and 50%-95% of the micron FeCrNiSiB powder. According to the iron-based wear-resistant 
composite material and the preparation method thereof provided by the invention, the 
composite coating with good performance is prepared on the surface of an iron-based 
alloy material, the service life of an iron-based 
alloy matrix is prolonged, and the preparation method has great significance in repairing and reconstruction of 
engineering machinery.