The invention discloses a refractory spray coating with high steel fiber content and a spraying method thereof, which belong to the technical field of refractory materials. The method comprises the following step of: 1, pneumatically conveying the refractory spray coating to a nozzle, adding water onto the nozzle, and spraying and bonding the coating on a wall; or 2, adding water or a liquid bonding agent into the refractory spray coating, stirring the mixture into mortar, conveying the mortar to the nozzle by a pumping method, spraying the mortar out of the nozzle by using high-pressure air,and bonding the mortar on the wall. The refractory spray coating comprises the following ingredients in part by weight: 30 to 80 parts of refractory aggregate, 30 to 50 parts of refractory powder, 5 to 20 parts of bonding agent, 0.5 to 15 parts of additive and 3 to 80 parts of steel fiber. The invention has the advantages that: by spraying the refractory spray coating on a blast furnace cooling wall, spraying on a blast furnace throat steel brick, spraying on various refractory linings with cold faces and hot faces and repairing, the service life of the refractory material for the inner wall of a blast furnace can be greatly prolonged, and the effects of protecting the environment, saving energy and reducing consumption are achieved.