The invention relates to a high-temperature alloy core rod applied to planetary rolling mill for rolling copper and copper and a preparation method of the high-temperature alloy core rod, and belongsto the technical field of metal machining. The high-temperature alloy core rod comprises 11.50-14.00% of Cr, 3.80-5.2% of Mo, 5.50-6.50% of Al, 0.50-1.00% of Ti, 1.80-2.80% of Nb and Ta, 0.005-0.020%of B, 0.08-0.20% of C, 0.050-0.20% of Zr, 0-0.50% of Si, 0-0.50% of Mn, 0-0.015% of P, 0-0.015% of S, 0-2.50% of Fe and the balance Ni. In the preparation process, a mother alloy cast ingot is prepared through vacuum induction smelting, vacuum induction remelting is carried out, a high-temperature alloy core rod blank is prepared through investment casting, the blank is subjected to hot isostaticpressure treatment and subsequent heat treatment, then the blank is polished and subjected to finish machining, and finally the core rod is subjected to surface aluminizing treatment to improve the surface hardness and corrosion resistance at high temperature. The high-temperature alloy core rod prepared through the preparation method has relatively high comprehensive mechanical property, long infatigue life and high in high-temperature strength, the service life of a die is obviously prolonged, the preparation process is simple, and the process is short.