The invention discloses a metal type flux-cored wire and a preparation method of a stainless steel bearing ring. A flux core of the welding wire comprises chromium powder, nickel powder, molybdenum powder, ferrovanadium powder, ferroniobium powder, aluminum powder, tungsten powder, chromium nitride, hafnium boride, tantalum powder, lanthanum oxide, sodium fluoride and the balance iron powder. The flux-cored wire has the advantages that the flux-cored wire is uniform in molten drop transition, the components and proportion of the flux can be adjusted, the required welding seam chemical components can be provided, the deposition speed of the flux-cored wire is high, and the production efficiency is high; and the obdurability, wear resistance, corrosion resistance and high-temperature stability of the high-carbon-chromium type stainless bearing steel can be improved, so that the high-carbon-chromium type stainless bearing steel has more excellent processing properties, and the requirements of practical engineering problems are met. According to the preparation method of the stainless steel bearing ring, CMT welding is used as a heat source, the metal type flux-cored wire is used as a raw material, the stainless steel bearing ring is manufactured through additive manufacturing, efficiency is high, the number of needed devices is small, and production cost is low.