The invention discloses a high-intensity aluminum alloy powder brazing filler metal with the melting point being lower than 490 DEG C and a preparing method of the high-intensity aluminum alloy powder brazing filler metal with the melting point being lower than 490 DEG C, and belongs to the technical field of aluminum alloy brazing. The brazing filler metal comprises the following ingredients in parts by weight: 8.6 to 9.5 percent of Si, 16.5 to 17.5 percent of Cu, 8.5 to 9.5 percent of Ge, 4.5 to 5.0 percent of Ni, 4.0 to 5.0 percent of Zn, 0.70 to 0.75 percent of Sr, 0.35 to 0.40 percent of Bi, 0.40 to 0.45 percent of La, 0.40 to 0.55 percent of Ce, 0.10 to 0.20 percent of Yb and the balance Al. The brazing filler metal is prepared by adopting a flux rapid cooling-ball milling technology, the melting point is lower than 490 DEG C, the brazing temperature is 500 to 520 DEG C, and the brazing filler metal is applicable to aluminum alloy brazing with the solid phase line temperature higher than 500 DEG C, such as in-furnace brazing, vacuum brazing, induction brazing and flame brazing. The brazing filler metal is matched with QJ201 for brazing 3003 aluminum alloy, and the shearing intensity of a brazing joint is greater than 74MPa.