A method of preparing silver-based electrical contact materials with directionally arranged reinforcing particles includes steps of: (1) preparing composite powders with Ag coating on the reinforcing phase by chemical plating coating; (2) granulating; (3) placing the granulated powders and the matrix silver powders into the powder mixer for mixing; (4) cold-isostatically pressing; (5) sintering; (6) hot-presssing; (7) hot-extruding, thereby obtaining the reinforcing silver-based electrical contact materials with directionally arranged particles. Regardless of the size of reinforcing particles, the present invention can obtain particle-reinforced silver-based materials with excellent electrical performance. The process is simple and easy to operate, and places no special requirements on the equipment. Furthermore, the resistance to welding and arc erosion, and the conductivity of the material prepared by the present invention can be greatly improved. Moreover, the processing performance is excellent.