The invention provides a positive active material of a Li-ion battery. The positive active material contains an oxide IA with a formula of LiNi1-x-yCoxMyO2, wherein x and y are mole fractions; the summation of x and y is not less than 0 and less than 1; and M is selected from one or more of a group including Al, B, Mn, Fe, Ti, Mg, Cr, Ga, Cu, Zn, Y, Sr and Nb. The positive active material also contains an oxide IB having a formula of Li(NiMn)(1-a-b)/2CoaXbO2, wherein a and b are mole fractions; the summation of a and b is not less than 0 and less than 1; and X is selected from one or more of a group including Al, B, Fe, Ti, Mg, Cr, Ga, Cu, Zn, Y, Sr and Nb. In addition, the invention also provides the positive active material preparation method. The positive active material has the advantages of excellent thermal stability, rate discharge performance, circle performance and overcharge performance.