The invention belongs to the technical field of non-ferrous metal processing, particularly relates to copper alloy with circular disc-shaped precipitates and a preparation method thereof. The alloy isprepared from the following ingredients including 1.2 to 2.4 percent of Ni, 0.6 to 1.4 percent of Co, 0.2 to 0.6 percent of Si, 0.02 to 0.1 percent of Ti, 0.02 to 0.1 percent of Zr, 0.02 to 0.4 percent of Ce, 0.01 to 0.1 percent of Ta and the balance of Cu. After the deformation aging treatment on the alloy, the conductivity, the elasticity modulus, the tensile strength, the plastic elongation rate, the anti-electromagnetic-shielding performance and the anti-corrosion performance can be obviously improved; by regulating and controlling the addition of the alloy element, different properties required by the alloy can be improved; the alloy can be further applied to the fields of information industries, aquiculture, power cable, automobile electronic components and the like. The method hasthe advantages that the process is simple; the efficiency is high; the controllability is realized; the industrialization production is facilitated.