This invention discloses a wear-resistant liner plate for inlaid bainite and martensite composite steel and its preparation method, wherein the liner plate comprises a perforated substrate, an inlay body. The matrix is high toughness impact resistant metal. The inlay body is high hardness wear resistant metal. The inlays are embedded in the pore structure of the perforated substrate, and the inlays are the alloys of different substance proportions. The matrix is high manganese steel. The preparation method is using the technology of smelting, casting, annealing and heat treatment to obtain perforated matrix and inlays. This inlaid bainite and martensitic composite steel wear proof liner plate and its preparation method can effectively exert the advantages of the material itself, and improve the impact resistance of the liner plate and wear resistance of the liner plate. The liner plate is suitable for high and low impact load and can effectively offset the result that the property of the material cannot be exerted when the hardening effect of high manganese steel work is not obvious and offset the effect that the matrix has large defect when the work hardening tissue stress is too large, which can improve the service life of the liner plate and reduce the times of maintenance. The production process of the liner plate is simple and is of low cost.