The invention provides an alloy material for a chip processing system of a marine drilling platform and a preparation method of the alloy material. The alloy material comprises components of raw materials as follows: C, Mn, Si, S, P, Cr, Ni, Mo, Cu, Ir, Mg, Al, V, W, Pb, Nb, Sn, Zn, Ho, Lu and the balance Fe. The preparation method comprises steps as follows: metal raw materials and nonmetal raw materials are sintered under the vacuum condition at the temperature of 950-1,000 DEG C, the sintered raw materials are cooled to 700 DEG C under the condition of inert gas pressurization for tempering, then are heated to 750 DEG C for annealing and are cooled finally, and a finished product of the material for the chip processing system of the marine drilling platform is obtained. The alloy material has antirust performance, antimagnetic performance, pressure resistance and seawater corrosion resistance and is not prone to deformation.