The invention relates to a hydroxy-pyridone ligand; a structural formula of the hydroxy-pyridone ligand is one of two formulas described in the description, wherein a structural formula of R is described in the description, R1 is hydrogen, alkyl of C2-C4, halogen, hydroxyl or carboxyl, m, n and p are independently selected from 1, 2 or 3, and r is 1 or 2. A preparation method of the hydroxy-pyridone ligand comprises the following steps: dissolving a compound as shown in a formula (1) into an organic solvent, and then enabling the obtained solution to react with an amino-terminated compound at the temperature of 25-35 DEG C in presence of a catalyst to obtain an intermediate compound; enabling the obtained intermediate compound to have a palladium-carbon reduction reaction in an organic solvent to obtain the hydroxy-pyridone ligand, wherein a structural formula of the compound as shown in the formula (1) is described in the description, and R1 is hydrogen, alkyl of C2-C4, halogen, hydroxyl, carboxyl or aryl. The invention also provides application of the hydroxy-pyridone ligand as chelating agents for lanthanide elements, actinide elements and / or heavy metal elements. The invention further provides application of the hydroxy-pyridone ligand as a chelating agent for the element in nuclear waste, wherein the element in the nuclear waste is Sr, Cs, Tc or I.