The invention relates to the technical field of metal smelting, in particular to a high-corrosion-resistance super-free-cutting soft magnetic ferrite stainless steel wire rod. The wire rod is characterized by being prepared from the components including, by mass, 0.05%-0.15% of S, 1.0%-2.0% of Si, 0.1%-0.4% of Cu, 17.0%-19.0% of Cr, 1.0%-2.0% of Mo, 0.2%-0.4% of Nb, 0.005%-0.015% of Te, less than or equal to 0.03% of C, less than or equal to 0.03% of N, less than or equal to 0.03% of P, less than or equal to 0.8% of Mn, less than or equal to 0.4% of Ni and the balance Fe and other impurities. The invention further relates to a preparation method of the stainless steel wire rod. The preparation method comprises the steps that raw materials are sequentially subjected to electric arc furnace smelting, AOD furnace smelting, LF ladle refining, continuous casting, continuous casting billet heating, rolling, solid solution and acid pickling, and finally, the stainless steel wire rod finished product is obtained. Through component optimization, tellurium alloying and production process technology control, the high-corrosion-resistance super-free-cutting soft magnetic stainless steel wire rod is manufactured, and the soft magnetic stainless steel wire rod also has excellent machining performance and soft magnetic performance at the same time. The total yield of the produced soft magnetic stainless steel wire rod is larger than or equal to 95%, and the production cost is low.