The present invention relates to a base material for high temperature alloy and a process for manufacturing the same. The base material includes following components (by weight): 10-45% Cr, 0.5-12% Nb, 0.7-2.5% Ti, ≦9.0% Mo, ≦8.0% W, ≦2% Mn, ≦1.0% Si, ≦2.0% Al, ≦0.5% C, ≦0.032% O, ≦0.032% N,≦0.01% S, ≦0.02% P, and balance being Fe and unavoidable impurities. The process for manufacturing the base material for high temperature alloy includes following steps: providing raw materials according to the target composition; charging the raw materials in a crucible uniformly layer and layer according to a certain sequence, smelting in vacuum condition; after the materials being melted completely, holding the melt at a temperature; and casting ingot, and cooling to obtain a base material for high temperature alloy.