The invention relates to the technical field of brake pads, and provides a brake pad having noise reducing function, which includes, by weight, 5-10 parts of butyl-butadiene styrene rubber, 5-10 parts of modified phenolic resin, 5-10 parts of butadiene styrene rubber, 10-15 parts of nitrile butadiene rubber, 5-6 parts of potassium magnesium titanate lamellar crystal, 3-6 parts of polypropylene, 15-20 parts of flake graphite, 6-10 parts of boron nitride, 1-2 parts of a binding agent, 1-2 parts of feldspar powder, 0.5-3 parts of zinc oxide, 5-10 parts of rubber powder, 1-2 parts of fluorite powder, 0.5-1 part of silicon carbide, 3-4 parts of glass fibers, 2-3 parts of carbon fibers, and 4-6 parts of steel fibers. The invention also provides a preparation method of the brake pad having noise reducing function, which includes the steps of mixing and uniformly stirring the raw materials, performing hot pressing, and performing thermal-treatment to the pressed brake pad. The brake pad is wear-resistant and high-temperature-resistant, is not liable to deform, and has noise reducing function.