The invention discloses a low-cost denitration catalyst and a preparation process thereof. The catalyst comprises the following components: nanometer TiO2 powder, montmorillonite, ammonium metatungstate, ammonium metavanadate, chopped glass fiber, broad-leaf forest wood pulp fiber, carboxymethyl cellulose, polyoxyethylene and stearic acid. The preparation process of the low-cost denitration catalyst comprises the steps: dissolving the ammonium metavanadate by taking an aqueous solution of monoethanolamine as a solvent, dissolving the ammonium metatungstate into water under normal temperature, and continuously stirring the solution for 1h for later use; and sufficiently kneading the raw material of the catalyst to obtain a plastic pug, placing the plastic pug into a sealed plastic bag to store for a plurality of hours to age, forming the pug into a honeycomb-shaped catalyst blank, entering a dried honeycomb body into a mesh band type tunnel kiln for roasting, cutting a final roasted product according to the required length, assembling the product into a module box body, and externally packaging the product. The low-cost denitration catalyst is low in cost and capable of effectively improving the denitration performance, enhancing the mechanical strength of the product and improving the wear resistance.