A vanadium oxide thermo-sensitive film material with a high temperature coefficient of resistance (TCR) contains a rare earth element of Yttrium serving as a dopant in a preparation process. The vanadium oxide thermo-sensitive film material includes a substrate and a yttrium-doped vanadium oxide film layer. The yttrium-doped vanadium oxide film layer includes three elements of vanadium, oxygen and yttrium, wherein the atomic concentration of yttrium is at a range of 1%-8%, the atomic concentration of vanadium is at a range of 20-40% and the residue is oxygen. The method for preparing the vanadium oxide thermo-sensitive film material with high TCR includes a reactive magnetron sputtering method using a low-concentration yttrium-vanadium alloy target as a sputtering source or a reactive magnetron co-sputtering method using dual targets including a high-concentration yttrium-vanadium alloy target and a pure vanadium target as a co-sputtering source.