The invention discloses an aluminum alloy material, an aluminum alloy wire and a preparation method of the aluminum alloy wire, and relates to the field of aluminum alloys. The aluminum alloy material comprises, by mass, 0.1%-0.25% of Fe, 0.01%-0.05% of Si, 0.02%-0.3% of Zr, 0.1%-1% of M, 0.02%-0.3% of Y, Mn, V, Ti, Cr and the balance is Al, wherein the total content of Mn, V, Ti and Cr is controlled to be smaller than or equal to 0.01%, the mass ratio of Fe to Si is 2-8, and M is composed of La and Ce. According to the aluminum alloy material, specific components are selected according to a specific ratio, on the basis that the cost is not obviously increased, the heat resistance and the mechanical property of the aluminum alloy material are effectively considered and enhanced, the conductivity is improved, and the aluminum alloy material has excellent commercial application value.