The invention relates to the field of petroleum and natural gas extraction, and in particular relates to an oil well pipe and a preparation method thereof. The oil well pipe comprises an oil well pipe matrix, wherein a compound layer and a metal oxidation layer are sequentially arranged on the surface of the oil well pipe matrix from inside to outside; the compound layer and the metal oxidation layer are sequentially formed by permeating a nitrogen-carbon-yttrium ion permeating agent, an ion activation permeating agent and an oxygen ion permeating agent. Compared with an oil well pipe of the prior art, the oil well pipe and the preparation method of the oil well pipe have the advantages that non-metal elements and trace metal elements are permeated into the overall oil well pipe to form anti-corrosion layers on the inner and outer walls of the oil well pipe; due to adoption of the method, the oil well pipe can bear corrosion of various corrosive mediums, is stable in quality and is free of pollution to the environment.