The invention provides bolting steel which comprises 0.05wt%-2.5wt% of yttrium, 0.25wt%-0.4wt% of carbon, 0.8wt%-1.6wt% of chromium, 0.17wt%-0.37wt% of silicon, 0.4wt%-0.6wt% of molybdenum, 0.2wt%-0.4wt% of vanadium, 0-0.01wt% of titanium and the balance of iron. Due to the interaction and mutual cooperation of the added metal elements including yttrium, carbon, chromium, silicon, molybdenum, vanadium, titanium, iron and the like, the bolting steel provided by the invention has high tensile property and plasticity, can effectively resist the deformation of a critical area of electric lightning arrester equipment caused by the effect of strong wind, optimizes the inherent frequency of the equipment and improves the wind vibration resistance of the overall equipment. The application also provides a preparation method of the bolting steel.