The invention discloses a high-entropy high-temperature alloy and a preparation method thereof, and belongs to the field of high-entropy alloys. The alloy comprises the following chemical components of, in percentage by atom, 35%-40% of Ni, 30%-35% of Co, 10%-13% of Al, 5%-10% of Cr, 5%-8.5% of Fe, 1%-2.5% of Ti, 1%-3% of Ta, 0.01%-1% of Mo, 0.01%-1% of W, 0-1% of Re, 0.02%-0.12 % of C, 0.002%-0.015% of B, 0.005%-0.12% of Hf, and 0.05%-0.15% of RE, wherein Al+Ti+Ta is greater than or equal to 14% and less than or equal to 16%, and RE is any one rare earth element of Ce, La and Y. The preparation process of the alloy comprises the following steps of weighing and matching alloy elements according to the molar ratio, putting the alloy elements into a smelting furnace for smelting, carrying out high-temperature refining and casting to obtain an alloy ingot, preparing a (001) oriented single crystal high-entropy high-temperature alloy bar by adopting a high-speed solidification Bridgeman method, and then performing solution treatment and secondary aging treatment on the alloy bar. The prepared alloy bar has good high-temperature strength and thermal corrosion resistance, and is a candidate material of a hot-end part of an aero-engine and an industrial gas turbine.