The invention relates to a hypereutectic high-chromium white cast iron, which comprises the following components by mass percentage: 3.2-4.5% of C, 25-30% of Cr, 0.4-1.0% of Si, 0.4-1.0% of Mn, 1.5-3.0% of Ti, 3.5-5.0% of W, less than or equal to 0.04% of P and S, 0.02-0.05% of Al, 0.1-0.3% of Y, and the balance of Fe. A preparation method of the hypereutectic high-chromium white cast iron comprises the following steps: adding waste iron, pig iron and high carbon ferro-chrome in an intermediate frequency induction furnace with a vacuum system for melting, pre-deoxidizing ferrosilicon and ferromanganese, deoxidizing by using aluminium wire; adding ferrotungsten and ferrotitanium, vacuumizing, placing yttrium at bottom of ladle, dumping molten iron in the ladle, removing slag; when temperature of molten iron is reduced, pouring sand mold to obtain the hypereutectic high-chromium white cast iron; quenching, tempering, and discharging and cooling. The hardness HRC of the hypereutectic high-chromium white cast iron is 64-68, and the impact toughness is greater than 7J / CM<2>.