The invention relates to a sheath-core type low-melting-point copolyamide composite fiber and a preparation method thereof. The sheath of the composite fiber is copolyamide, the core is polyolefin, the melting point of the sheath ranges from 90 DEG C to 130 DEG C, the melting point of the core ranges from 130 DEG C to 190 DEG C, the breaking strength is in a range of 1.8-3.4 cN/dtex, and the elongation at break is in a range of 50%-90%. The preparation method of the composite fiber comprises steps as follows: copolyamide slices and polyolefin slices are dried and molten respectively and then ejected by a same composite assembly to form filaments, and the composite fiber is prepared through cooling, oiling, draft setting and winding into rolls. The sheath can be molten at the lower temperature through heat setting or ironing and plays a role in bonding and fixing the fiber, and the core is the polyolefin and can keep certain strength and flexibility at the temperature; compared with single-component low-melting-point fibers, the fiber has the advantages that the core is the polyolefin, the production cost can be reduced, and the economic benefit can be increased. The composite fiber can be applied to shoe upper fabric, felt, curtain fabric, garment cuffs and collars, the paper industry, automobile interiors and the like.