The invention discloses an HEMT epitaxial structure, which structurally comprises a substrate (10), a low-temperature GaN buffer layer (20), an undoped GaN high-resistance layer (30), an AlN
isolation layer (40), an undoped GaN channel layer (50), a
barrier layer (60) with the
Al content thereof to be changing in the stepped manner, and an AlN
barrier layer (70). The undoped GaN high-resistance layer and the AlN
isolation layer grow after the annealing treatment of the low-temperature GaN buffer layer. Compared with the carbon-doped manner or the iron-doped manner, the
crystallization quality is effectively improved and the
memory effect caused by
ion doping is avoided. Meanwhile, the structure is provided with multiple channels, wherein two main channels are formed at the interfaces of an AlN
barrier layer and an undoped GaN channel layer with the barrier layer with the
Al content thereof to be changing in the stepped manner, and multiple auxiliary channels are formed at the interface of the barrier layer with the
Al content thereof to be changing in the stepped manner. Compared with a conventional HEMT device, the current driving capability of the HEMT device is enhanced. The
gate leakage current of the HEMT epitaxial structure and the leakage current of the buffer layer are small, and the current driving capability is strong. Therefore, the HEMT epitaxial structure can be applied to the field of high-power electronic devices. In addition, the invention further provides a preparation method of the HEMT epitaxial structure.