The invention provides heat-resisting steel and a preparation method thereof. The method comprises the steps of mixing a first part by
mass of Fe with C, Si, Mn, Cr, Ni, Mo, S and P, and
smelting so as to obtain
liquid steel; and covering a second part by
mass of Fe on the surface of
rare earth, pouring the
liquid steel, and standing, thereby obtaining the heat-resisting steel, wherein the particle
diameter of the
rare earth is nano-scale and / or micron-scale. Compared with the prior art, the method has the advantages that the
rare earth with the nano-scale or micron-scale particle
diameter is adopted to modify the heat-resisting steel, the surface
activation energy of the nano-scale and / or micron-scale rare earth is higher, the surface of the rare earth is covered by
iron powder, and then, the
liquid steel is added, so that the rare earth can be isolated from the air, the time of contact between the rare earth and the liquid steel is shortened, the oxidation burning loss is reduced, then, the modification effect of a rare-earth element on the heat-resisting steel is improved, basic
crystal grains of the
microstructure of the heat-resisting steel are refined and have the effect of refined
crystal grains, meanwhile, the high-temperature elongation percentage of the heat-resisting steel can be increased, and the
oxidation resistance of the heat-resisting steel is improved.