The invention provides Cu-Cr/CNTs composite powder and a preparation method thereof. The method comprises the steps that Cu, Cr and Cu-Cr alloy are melted to obtain alloy liquid; a water atomization method is adopted for crushing and condensing the alloy liquid to obtain alloy powder; the alloy powder is subjected to solid solution and aging treatment, and a Cu carrier catalyst is obtained; and the Cu carrier catalyst is paved on a base plate, hydrogen, carbon source gas and water vapor are introduced for performing chemical vapor deposition under the atmosphere of argon, and the Cu-Cr/CNTs composite powder is produced. According to the Cu-Cr/CNTs composite powder provided by the invention, the interface bonding performance between carbon nano tubes and a Cu-based carrier is good, and theCu-Cr/CNTs composite powder provided by the invention has good mechanical performance.