a method of preparing silver - based oxide electrical contact materials with fiber - like arrangement , includes the following steps of : uniformly mixing the silver - metal alloy powders and graphite powders and then ball - milling ; internally oxidizing the ball - milled powders ; sieving ; placing the sieved powders and the matrix powders into the powder mixer for mixing ; cold - isostatically pressing ; sintering ; hot - pressing ; and hot - extruding , thereby obtaining the silver - based oxide electrical contact material with fiber - like arrangement . the method of the present invention can obtain the silver - based oxide electrical contact material having neat fiber - like arrangement with no specific requirement on processing deformation , plasticity and ductility of the reinforcing phase . the production process in this method is simple and is easy to operate . besides , there is no particular requirement on the equipment . the method greatly improves the performance of contact materials in aspects of resistance to welding and arc erosion , conductivity , and processing performance