A low-carbon and low alloy hot-work die steel with a high toughness at low temperatures and a high strength at high temperatures and a high hardenability, comprises the following components: C: 0.15-0.35%, Si: 0.40-0.90%, Mn: ≤0.80%, Cr: 1.50-2.40%, Ni: 2.50-4.50%, Mo: 1.00-1.60%, V: 0.10-0.40%, W: 0.20-0.90%, P: ≤0.02%, S≤0.02%, and a balance of Fe matrix and other inevitable impurities. The above percentages are mass percentages. The material of the present invention can have a V notch impact energy of 30 J or more than 30 J at −40° C., a high temperature strength of 380 MPa or more at 700° C., and a hardenability of 200 mm or more to ensure the consistency of internal and external microstructures. The materials of the present invention can be applied to hot-work molds used in special working conditions that require high toughness at low temperatures, high strength at high temperatures and high hardenability.