The invention provides a friction material, a long-life friction lining and a preparation method thereof. The friction material comprises the following raw materials, by weight, 5-8 parts of basalt fiber; 10-15 parts of steel fiber; 5-6 parts of composite mineral fiber; 6-10 parts of butyronitrile modified phenolic resin, 3-8 parts of powdered acrylonitrile-butadiene rubber, 5-9 parts of graphite,10-15 parts of precipitated barium sulfate, 2-5 parts of aramid pulp, 2-5 parts of titanate lamellar crystals, 9-15 parts of light calcium carbonate, 7-12 parts of magnesium oxide, 3-6 parts of calcined aluminum oxide, 5-8 parts of red copper fibers, 5-9 parts of ferrous sulfide and 9-12 parts of fluorite. By reasonably setting the content of each component, the components generate a synergisticeffect, when the components are proportioned together to be used for the friction lining, it is confirmed through loading test and verification that the service life of the friction lining reaches 120,000 km or above, and the friction lining is complete and free of edge and corner falling, delaminating and scorching phenomena.