The invention relates to a porous self-sharpening metal-based grinding wheel and a preparing method thereof and belongs to the technical field of grinding materials and grinding tools. The porous self-sharpening metal-based grinding wheel comprises a porous foam metal base body and a grinding material fixedly bonded to the porous foam metal base body through a metal bonding agent. The porous self-sharpening metal-based grinding wheel has the high porosity, in addition, the pore size is large, uniform and controllable, the chip containing space of the grinding wheel can be effectively improved,the heat dissipation performance of the grinding wheel is improved, the grinding temperature is reduced, and meanwhile the edge exposure capability and the self-sharpening performance of the grindingwheel are improved. In addition, by means of the porous self-sharpening metal-based grinding wheel, finishing is easier due to the reduced density.