Light and high-strength glass fiber filter paper is prepared from double-component hollow glass fibers and an adhesive and is characterized in that the double-component hollow glass fibers have the hollow rate being 0.60-0.95, the average diameter being 0.8-7.2 mu m and the length-diameter ratio being 16-78, the section is one or a mixture of round and oval, the double-component hollow glass fibers are formed by melting two glass raw materials in two kilns to form a mixed liquid and performing blowing with high-temperature flames at 1,450-1,550 and drawing. The invention further discloses a preparation method of the light and high-strength glass fiber filter paper. The preparation method comprises steps as follows: (1) dispersion with a beater; (2) stirring and deslagging treatment; (3) papermaking, vacuum water removal and pressing to form ground paper; (4) adhesive spraying; (5) drying. The light and high-strength glass fiber filter paper has the benefits of (1) lightness and environment-friendliness; (2) high strength.