The invention discloses a high-damping MnCu alloy and a powdery metallurgy preparation technology thereof. According to the high-damping MnCu alloy, Mn, Cu, Al, Ni and Fe are used as main components, the damping property can be enhanced by adding one or more of strongly magnetic particles Co3B, Co2B, Fe2B, FeB and MnB, and the sintering performance of the high-damping MnCu alloy can be effectively improved by adding one or more of Bi, Si, Sn and B as a sintering auxiliary. Compared with the traditionally cast MnCu-based damping alloy, the high-damping MnCu alloy has the characteristics of being higher in damping property, wider in damping temperature range, more flexible in formability and the like, and further the energy consumption can also be decreased. The formability of the prepared high-damping alloy is more flexible, so that the processing load of the subsequence procedures of rolling, grinding, cutting and the like can be reduced, and the cost reduction and mass production can be facilitated.