The present invention provides a method of preparing a reinforced composite fabric. The method includes steps of: forming a high-hardness thermoplastic elastomeric yarn and a low-hardness thermoplastic elastomeric yarn with a melting point from 50° C. to 150° C. into a fabric; and hot-pressing the fabric under a hot-pressing temperature to form the reinforced composite fabric. The hot-pressing temperature is higher than or equal to the melting point of the low-hardness thermoplastic elastomeric yarn but lower than the melting point of the high-hardness thermoplastic elastomeric yarn. The present invention also provides a reinforced composite fabric made by the method. The reinforced composite fabric can be made by a simple and an eco-friendly process, and has the advantages of high tensile strength and high impact strength.