The invention provides a titanium carbide preparation method based on carbonization titanium extraction treatment of titanium-bearing blast furnace slag. The method comprises the steps that the titanium-bearing blast furnace slag serves as the raw material, grinding and balling are conducted, heating is conducted to 1,100 DEG C to 1,300 DEG C, methane is decomposed into hydrogen and carbon black, and a titanium carbide crude product is obtained after reduction and carbonization are conducted; the titanium carbide crude product is subjected to levigating treatment and purifying, and a more pure titanium carbide product can be obtained; the processes of the method are simple and easy to operate, due to the fact that methane is decomposed to obtain hydrogen and carbon black with high activity, hydrogen and the titanium-bearing blast furnace slag are subjected to a gas-solid reaction, and the reduction efficiency is high; meanwhile, by means of the carbon black with the high activity, the carbonization efficiency is greatly improved, the overall reaction efficiency is improved, the carbonization temperature is decreased, tail gas obtained from the reaction is used as gas fuel supply for heating of a closed-type carbide furnace, therefore, energy consumption is effectively reduced, an existing titanium-bearing blast furnace slag resource is better utilized, the added value of the titanium-bearing blast furnace slag is increased, and good industrial application value is achieved.