The invention relates to a high-iron brake pad applying a composite wear-resistant material and a preparation method. The high-iron brake pad comprises a steel backing, a composite wear-resistant material transition layer and a friction material which are connected in sequence, the composite wear-resistant material is composed of metal powder and inorganic nonmetal powder, and the friction material is composed of, by weight, 15-30 parts of copper powder, 4-29 parts of red copper fibers, 5-30 parts of iron powder, 3-20 parts of stainless steel fibers, 3-10 parts of titanium carbide, 3-8 parts of zirconium oxide powder, 8-20 parts of graphite, 3-6 parts of metal sulfide, 5-15 parts of barium sulfate and 0.1-1 part of rubber powder. According to the high-iron brake pad applying the composite wear-resistant material, the bonding strength between the friction material and the steel backing is improved, the risk that the friction material is separated from the steel backing in the braking process is reduced, the wear resistance of the high-iron brake pad is improved, the strength of the brake pad is high, the safety of the high-iron brake pad is improved, the replacement frequency is reduced, and the service life of the brake pad is prolonged. And the use requirements of the high-iron brake lining can be met.