The invention provides a Ni-Cr-Mo-W-Nb-Al-Ti system high temperature alloy material. The high temperature alloy material comprises the following chemical ingredients by weight: less than or equal to 0.08% of C, 14.0-16.0% of Cr, 2.75-3.25% of Mo, 2.75-3.25% of W, 2.75-3.25% of Nb and Ta, 0.3-0.6% of Al, 0.4-0.7% of Ti, 5.0-9.0% of Fe, 0.01-0.05% of Zr, 0.003-0.008% of B, 0.01-0.05% of Mg, less than or equal to 0.75% of Mn, less than or equal to 0.01% of P, less than or equal to 0.04% of Si, less than or equal to 0.01% of S, and the balance of Ni and inevitable impurity elements. The invention further provides a preparation method of the material and application to a power device. The obtained alloy has the advantages of high high-temperature tensile strength, high oxidation resistance and long service life.