The invention relates to an anode catalyst of a direct borohydride fuel cell, a preparation method of the anode catalyst, the direct borohydride fuel cell and the anode catalyst of the direct borohydride fuel cell, the anode catalyst of the direct borohydride fuel cell is LaMgNi series A2B7 type hydrogen storage alloy, the molecular formula of the hydrogen storage alloy is (Mm<1-x>Mgx)Ni2.485Co0.525Mn0.28Al0.21, wherein x=0.1-0.5, and Mm is misch metal which is composed of, by weight, 63.1%of La, 26.0% of Ce, 2.7% of Pr and 8.2% of Nd. The anode catalyst is a La-Mg-Ni series A2B7 type hydrogenstorage alloy, which not only has direct catalytic capability, but also can adsorb (or store) generated hydrogen and release the hydrogen in an electric energy form; the fuel utilization rate is improved through dual action, and the problems that in the prior art, precious metal serving as the anode catalyst is high in price and high in cost performance are solved; and a common hydrogen storage alloy is poor in catalytic activity.