The invention relates to a nano-composite lubricating ultralow-abrasion electric contact material for a conductive slip ring product in the aerospace environment and a preparation method. The optimized material comprises, by mass, 10.00%-30.00% of tungsten disulfide, 5.00%-20.00% of molybdenum disulfide and the balance Ag. The material is prepared through a powder metallurgy method. According to the properties of the material, the density is larger than or equal to 97% of the theoretical density, the bending strength is larger than 120 MPa, the static contact resistance is smaller than 2.0 m ohms, and the hardness is larger than 50 HB; and under the conditions of vacuum, low speed, low load and low carrying current, the friction coefficient is 0.12-0.20 (a mating material is 90Ag10Cu), the wear rate is smaller than 1.0x10<-14>m<3>/N.m, and the total operation mileage is larger than two million revolutions or 100 km. The component design is reasonable, the preparation process is simple and controllable, and the nano-composite lubricating ultralow-abrasion electric contact material is convenient to industrially apply on a large scale.