The invention provides steel for a freight train connecting piece and a preparation method thereof. The steel for the freight train connecting piece comprises the following chemical ingredients in percentage by mass: 0.24-0.28 percent of C, 0.20-0.40 percent of Si, 1.20-1.50 percent of Mn, 0.50-0.65 percent of Cr, 0.45-0.65 percent of Ni, 0.20-0.30 percent of Mo, 0.03-0.05 percent of Ti, 0.025-0.040 percent of Al, less than or equal to 0.020 percent of S, less than or equal to 0.020 percent of P, less than or equal to 0.15 percent of Cu, less than or equal to 15 ppm of O, less than or equal to 1.5 ppm of H and the balance of Fe and inevitable impurities. According to the invention, as the steel for the freight train is adopted, the mechanical properties of strength, low-temperature impact performance, fatigue life and the like of the connecting piece can be improved, so that the development of railway vehicles towards the high-speed heavy-load direction can be improved, and railway accidents caused by the connecting piece are reduced or avoided.