The invention discloses a high-speed extruded magnesium alloy deformed profile low in rare earth content and a preparation technique thereof, and belongs to the technical field of metal materials. The magnesium alloy comprises, by weight, 0.1-2.0% of Zn, 0.1-0.9% of RE, and the balance Mg. A trace of or a small amount of rare earth (RE) is added into the magnesium alloy, and the alloy cost is effectively reduced. Production is conducted with the speed of an extrusion outlet larger than 24 m/min, the extrusion production efficiency is high, the cost of the extruded profile is reduced, the surface of the obtained extruded profile is smooth and free of cracks, and the yield of the extruded profile is guaranteed. Meanwhile, the obtained extruded profile might have weak basal textures or weak non-basal textures, and the maximum pole density value of the weak basal textures or the weak non-basal textures is smaller than or equal to 4; and through optimized constituents, the room-temperature elongation of the extruded profile can be larger than or equal to 25%.