The invention discloses high-chromium cast iron for a wear-resisting grinding ball and a preparation method of the high-chromium cast iron, and relates to the technical field of wear-resisting grinding balls. The high-chromium cast iron comprises the following components of, in percentage by weight, 2.3%-3.0% of C, 0.5%-1.0% of Si, 0.4%-1.0% of Mn, 16%-20% of Cr, 0.3%-0.6% of Mo, 0.4%-0.8% of Ni,0.02%-0.08% of V, 0.05%-0.1% of B, 0.1%-0.2% of Nb, 0.01%-0.1% of Re, less than or equal to 0.03% of S, less than or equal to 0.03% of P, and the balance of Fe. According to the high-chromium cast iron, the contents of the chemical components in the high-chromium cast iron are reasonably adjusted, and the quenching stress is effectively eliminated by controlling the chromium-carbon ratio and the heat treatment process; a prepared grinding ball is high in impact load, and the hardness, the impact toughness and the wear-resisting property of the cast ball can be well balanced, so that the phenomena that in early stage, the surface of the cast ball is easy to be peeled, the broken ball rate is high and the like are improved; and the prepared grinding ball is high in impact load, and can meetthe use requirements of large-scale ball grinders in the industry of cement, mines, electric power and the like.