The invention discloses a process for casting heat-resistant steel or wear-resistant alloy steel by evaporative pattern casting (EPC). The process comprises the following steps of: purchasing raw materials, blending the materials, performing steelmaking, manufacturing a pattern, preparing a coating, brushing the coating, drying, pouring, testing, thermally processing, polishing, and packaging and warehousing. The invention further provides ingredients of the raw materials. The ingredients respectively are 0.3-0.8% of copper, 0.1-0.3% of molybdenum and 0.2-0.5% of chromium; molybdenum is added together with waste steel in a melting process; and copper is added together with molten iron into ladles in a tapping process. The invention also provides a preparation method of the coating. The coating comprises the following components in percentages by weight: 50-80% of fireproof material, 0.5-4% of adhesive, 1-3% of suspending agent, 0.5-3% of sodium dihydrogen phosphate and the balance of water, wherein the fireproof material is composed of bauxite, alundum powder, graphite powder or mullite powder. By adopting the method disclosed by the invention, effects of low cost, short processing period and good quality are achieved, the process of the method is reasonable, and the preparation effects of the raw materials and the coating are good, so the method is applicable to mass production and large-scale production.