The invention relates to low-cost normalizing rolling hot rolling H type steel and a preparation method thereof and belongs to the technical field of metallurgy and rolling. The chemical components of the H type steel comprises, by weight in percentage, 0.04-0.15 of C, 0.15-0.50 of Si, 0.95-1.65 of Mn,, not larger than 0.020 of P, not large than 0.015 of S, 0.02-0.050 of Al, not larger than 0.55 of Cu,, not larger than 0.30 of Cr, not larger than 0.50 of Ni, not larger than 0.10 of Mo, not larger than 0.03 of B, 0.02-0.060 of V, not larger than 0.04 of the sum of As, Sn, P and S and the balanced Fe and inevitable impurities. The production technology process of the steel comprises the steps of pretreatment of molten iron, converter steelmaking, LF refining, rectangular billet caster, heating, high pressure water descaling, rolling and cooling, straightening, sizing saw cutting and collecting and stacking. The low-cost normalizing rolling hot rolling H type steel has the beneficial effects of being low in production cost, high in strength, good in low-temperature toughness, excellent in welding use performance and the like. The low-cost normalizing rolling hot rolling H type steel meets the application requirement of the hot rolling H type steel material for extremely-cold areas, the LNG project and the offshore oil platform project at present.