The invention relates to martensite series wear-resistant steel and a preparation method thereof, belonging to the technical field of wear-resistant steel. The steel comprises the following chemical components: 0.05-0.51wt% of C, 2.0-10wt% of Mn, 0-1.5wt% of Al, 0-1.5wt% of Si, 0-1.5wt% of Cr, 0-1.5wt% of Cu, 0-1.5wt% of Ni and the balance of Fe and inevitable impurities, wherein the Mn/C ratio is not less than 9. Based on this, the following one or more composite elements can be optionally added: 0.02-0.50wt% of Mo, 0.02-0.50wt% of V, 0.02-0.50wt% of Nb, 0.01-0.5wt% of Ti, 0.02-0.50wt% of B and 0.02-0.50wt% of RE. The wear-resistant steel provided by the invention is easy to produce, low in cost and high in performance. The invention is applicable to the technical field of wear-resistant materials for mines, energy, transportation, agricultural machinery, engineering machinery and other industries.