The invention discloses vanadate upconversion material fluorescent powder, and a preparation method and application thereof. The vanadate upconversion material fluorescent powder has a chemical composition formula Y0.89-x-yVO4:0.01Tm<3+> / xEr<3+> / yHo<3+> / 0.1Yb<3+>, wherein x is 0 to 0.002, and y is 0 to 0.003. The invention also discloses the preparation method for the material, and the preparation method comprises the following steps of: weighing yttrium oxide, vanadium pentoxide, thulium oxide, holmium oxide, erbium oxide and ytterbium oxide in a molar ratio of the chemical composition formula, grinding and mixing uniformly, pre-sintering at the temperature of 650 DEG C, and keeping constant temperature of 650 DEG C for six hours; cooling, grinding again, sintering at the temperature of 1,200 DEG C, and keeping the constant temperature of 1,200 DEG C for six hours; and cooling to obtain the vanadate upconversion material fluorescent powder. The vanadate upconversion material fluorescent powder is high in luminous efficiency and stability and meets the requirement of a white light light-emitting diode (LED).