Provided is a silver-based low-voltage contact material, comprising a graphene material and a metallic silver material filling the graphene material; the volume of said graphene material occupies less than 30% of the total volume of the low-voltage contact material, and the remainder is said metallic silver material. Also provided is a method for fabrication of the described silver-base low-voltage contact material; by means of filling the graphene material with the metallic silver material, a silver/graphene composite contact material is obtained; the low-voltage contact material has the properties of high electrical conductivity, high hardness, low contact resistance, low temperature rise, and good machinablility, and thus has good prospects for application.