The invention provides axle steel for a high-speed train set in the alpine region. The axle steel comprises, by weight, 0.22-0.28% of C, 0.15-0.40% of Si, 0.4-0.65% of Mn, less than or equal to 0.005%of S, less than or equal to 0.010% of P, 1.4-2.2% of Cr, less than or equal to 0.20% of Cu, 0.10-0.15% of Mo, 0.005-0.014% of Nb, 0.005-0.03% of RE, 1.5-2.0% of Ni, 0.010-0.045% of Al, and the balance Fe and inevitable impurities. According to a method for preparing the axle steel for the high-speed train set in the alpine region, through the addition of reasonable components and the comprehensive refining technology, the low-temperature toughness, the fatigue performance and the hardenability of the axle steel are improved.