An iron-based amorphous alloy material with high glass-forming capability consists of the elements of Fe, Cr, Mo, C, B, Y and Co, wherein the atomic number ratio of the Fe, Cr, Mo, C, B, Y and Co are (24-32%):(16-24%):15%:14%:15%:6%:2%; the atomic number ratio of the elements of Fe, Cr, Mo, C, B, Y and Co are 24%:24%:15%:14%:15%:6%:2%; the atomic number ratio of the elements of Fe, Cr, Mo, C, B, Y and Co are 28%:20%:15%;14%:15%:6%:2%; and the atomic number ratio of the elements of Fe, Cr, Mo, C, B, Y and Co are 32%:16%:15%:14%:15%;6%:2%. The iron-based amorphous alloy material not only has a simple preparation technology, is low in cost, but also has good amorphous-forming capability and glass-forming capability, and also has mechanical properties with high strength and high hardness.