The invention relates to the technical field of magnetic information materials and especially relates to a low SFD magnetic recording material and a preparation method thereof. The low SFD magnetic recording material is mainly prepared from the following ingredients in parts by weight: 100 to 200 parts of iron oxide, 10 to 20 parts of strontium salt, 5 to 10 parts of barium salt, 1 to 2 parts of VIIB metal oxide, 0.5 to 1 part of VB metal oxide, 0.5 to 2 parts of samarium oxide, 4 to 10 parts of additive and 1 to 3 parts of fluxing agent, wherein the additive includes one or more of titanium oxide, cobalt oxide, zirconium oxide and nickel oxide. According to the low SFD magnetic recording material disclosed by the invention, the VIIB metal oxide and the VB metal oxide are added, special electron distribution of the VIIB metal oxide and the VB metal oxide are utilized, the VIIB metal oxide and the VB metal oxide perform alloying action with iron, strontium and barium, and a lattice constant is changed; thus, magnetism of the magnetic recording material is changed, and an SFD value is promoted to be reduced.