The invention relates to a low-viscosity cyano resin and a preparation method thereof, belonging to the technical field of organic high polymer materials. The low-viscosity cyano resin is prepared by proportionally mixing benzoxazine-ring-containing tetra-ortho-phthalonitrile resin monomer and diluter with para-nonyl phenol-type phthalonitrile monomer. The benzoxazine-ring-containing tetra-ortho-phthalonitrile resin monomer and nonyl phenol-type phthalonitrile monomer can be blended within a wider proportion range; and the mixture has the advantages of lower and adjustable viscosity at low temperature, favorable flowability, low-temperature curing and other processing properties. Meanwhile, the addition of the para-nonyl phenol-type phthalonitrile monomer has small influence on the heat stability of the benzoxazine-ring-containing tetra-ortho-phthalonitrile resin. The mixed resin has favorable processability of the benzoxazine resin and excellent temperature tolerance of the cyano resin, has the advantages of low-temperature processing, medium-temperature molding and high-temperature application, and can be used in the fields of space navigation and ship structural materials, paints, adhesives, electronic packaging materials and the like. The preparation method is easy to control, has the advantages of low reaction temperature and energy saving, and is suitable for continuous industrial production.