The invention relates to a graphene-containing vanadium dioxide composite powder and a preparation method and application thereof. The graphene-containing vanadium dioxide composite powder consists ofcore-shell particles and graphene dispersed between the core-shell particles, each core-shell particle consists of a vanadium dioxide particle and metal, the metal wraps the surface of the vanadium dioxide to form a metal shell, and the mass ratio of the vanadium dioxide particles, the metal and the graphene is (70 to 98) to (1 to 20) to (1 to 10). Through the synergistic effect of the metal shells and the graphene of the graphene-containing vanadium dioxide composite powder, the high conductivity of the graphene-containing vanadium dioxide composite powder can be achieved, and the electron transfer capability and infrared transmission and reflection capability of the graphene-containing vanadium dioxide composite powder are increased. When temperature increases, plasma resonance is generated inside the vanadium dioxide particles, a conductive network formed by the vanadium dioxide particles, the metal shells and the graphene carries out the total reflection of infrared light, at themoment, the transmission and absorption of infrared rays can be greatly reduced, consequently, temperature rise is decreased, and the objective of energy saving is achieved.