The invention discloses an iron-based amorphous alloy, a preparing method of the iron-based amorphous alloy and application of the iron-based amorphous alloy to an electrical heating material. The iron-based amorphous alloy is composed of FeaTibNicBdPeCfMg, wherein a, b, c, d, e and f are all atom percents, a is larger than or equal to 45 and smaller than or equal to 70, b is larger than or equalto 10 and smaller than or equal to 25, c is larger than or equal to 3 and smaller than or equal to 20, d is larger than or equal to 5 and smaller than or equal to 15, e is larger than or equal to 1 and smaller than or equal to 6, f is larger than or equal to 0.5 and smaller than or equal to 3, g is larger than or equal to 1 and smaller than or equal to 5, and the sum of the a, the b, the c, the d,the e, the f and the g is 100; and the component M is at least one of Zr, Y, Ta and Hf. The iron-based amorphous alloy electrical heating material has the good electric heating performance, the low temperature coefficient of resistance is achieved, and the low coefficient of linear expansion is achieved. The iron-based amorphous alloy has the high abrasive resistance, the high corrosion resistance and the good toughness, can be widely applied to various electric heating devices, and has the important industrial application values.