The invention provides a large-plasticity cobalt-based bulk amorphous alloy with high amorphous forming ability. The molecular formula of the bulk amorphous alloy is CoaFebBxSiyNbcCud, in the formula,a, b, c, d, x and y show atomic percents of corresponding alloying elements, wherein a is larger than or equal to 35 and smaller than or equal to 48, b is larger than or equal to 20 and smaller thanor equal to 36, c is larger than or equal to 4 and smaller than or equal to 5, d is larger than or equal to 0.1 and smaller than or equal to 0.9, x is larger than or equal to 20 and smaller than or equal to 24, y is larger than or equal to 4 and smaller than or equal to 5.5, a+b is larger than or equal to 65 and smaller than or equal to 71.9, and a+b+c+d+x+y is equal to 100. Compared with the prior art, the alloy has the obviously beneficial effects that the high amorphous forming ability, the outstanding plastic deformation capacity and the excellent soft magnetic property are achieved, the maximum critical diameter reaches 3 mm-5.5 mm, the breaking strength is 4060 MPa-4400 MPa, the plastic deformation capacity is 1%-3.7%, the saturation magnetization is 0.72 T and above, and the coercive force is 0.81A/m-1.41 A/m; and the alloy does not contain rare earth elements and easy volatile elements, the preparing process is simple, and the good application prospect is achieved. The invention further provides a preparing method of the above alloy.