The invention provides a wear-resistant cast iron material. The wear-resistant cast iron material comprises the following components in percentage by weight: 3.6-3.8 percent of C, 0.5-0.9 percent of Mn, 2-4 percent of S, 0.5-1.1 percent of Pb, 0.5-0.9 percent of Sn, 1.9-2.4 percent of Si, 0.05-0.09 percent of Pr, 0.05-0.2 percent of Nd, 0.05-0.1 percent of Gd, no more than 0.02 percent of impurity P, and the balance of Fe. The wear-resistant cast iron is provided with fine, disperse and wear-resistant particles, so that the composite material not only has an excellent general mechanical property and improved hardness and impact toughness, but also has an excellent wear-resistant effect. The invention further provides a method for preparing the wear-resistant cast iron. The method is very simple, and an alloy material produced by the method has high performance. The wear-resistant cast iron prepared by the method can improve the whole strength, hardness and wear resistance, prolong the service life and have a low production cost so as to facilitate industrial production.