The invention provides an inter-magnetic shielded steel and a preparation method thereof. The inter-magnetic shielded steel consists of the following chemical compositions: C is less than or equal to 0.005 weight percent, Si is less than or equal to 0.05 weight percent, Mn is 0.10 to 0.50 weight percent, P is less than or equal to 0.02 weight percent, S is less than or equal to 0.015 weight percent, Al is less than or equal to 0.030 weight percent, N is less than or equal to 0.005 weight percent, and the rest are Fe and inevitable impurities. The inter-magnetic shielded steel is pretreated by molten iron, smelted in a converter, refined after processed in the furnace, hot rolled, cleaned by acid, cold rolled, annealed in a bell type furnace, cold rolled again and finally finished into end-product coils. After stamped, the inter-magnetic shielded steel of the invention has excellent shape stability, good surface darkening performance and magnetic performance, and can be used for internal magnetic shielding of image tubes which carry out oxide treatment after stamped.