The invention relates to multi-element low alloy wear resistant cast steel bucket teeth and a preparation method thereof. The invention belongs to the technical field of construction machinery. The chemical composition of the bucket teeth is that: the bucket teeth comprise components of, by mass: 0.39 to 0.44% of C, 0.6 to 0.8% of Si, 1.2 to 1.5% of Mn, 0.8 to 1.0% of Cr, 0.0020 to 0.0045% of B, 0.05 to 0.08% of Al, 0.04 to 0.07% of Y, 0.02 to 0.04% of K, 0.02 to 0.05% of Ca, 0.03 to 0.06% of Nb, 0.03 to 0.06% of Ti, 0.035 to 0.055% of N, 0.02 to 0.04% of Mg, less than 0.03% of P, less than 0.03% of S, and balance of Fe and inevitable micro-impurities. The bucket teeth can be produced by using an electric furnace, and are cast by using a wax mold or a cold setresin sand mold. The bucket teeth have advantages of high hardness, good wear resistance, good impact toughness, and long service life. No fracture is occurred during application. The production technology of the bucket teeth is simple, and the production cost is low.