The invention relates to a high-speed resin heavy-load grinding wheel and a preparation method thereof. In the method, special material formulas of an outer grinding layer, core material and a hole core are designed separately, wherein used materials include four parts, namely a binding agent which is special for a high-performance modified high-polymer-based phenolic resin grinding wheel and prepared from phenolic resin, new phenolic resin and polysulfone resin, grinding materials such as fused zirconia alumina, alumina sintering corundum and black silicon carbide, fillers such as pyrite, cryolite and calcium carbonate (lime), and reinforcing materials such as mixed fine-particle-size grinding material, fiber, steel rings (local reinforcement) and the like; and a two-phase reinforced compound technology and structure are used to prepare the high-speed resin heavy loading grinding wheel. In the invention, the tensile strength, the folding strength and the grinding rate of the grinding wheel are greatly improved; under heavy load, the grinding range condition has wide adaptability, the linear speed is high, and the primary grinding rate is up to 1cm in thickness, so that the difficulty that the traditional grinding wheel can not be suitable for heavy load grinding of steel billets and steel material is better solved, and the need of increasing development of the steel industry is met.