The invention relates to a preparation method of a high-strength / toughness super-high manganese steel-based TiC / TiN steel bonded hard alloy. The preparation method is characterized by mixing one of TiO2 powder, TiH2 powder or Ti powder with colloidal graphite according to a C / Ti atomic proportion of 0.7 to 1.1, thus preparing in-situ synthetic TiC powder; mixing one of the TiO2 powder, the TiH2 powder or the Ti powder with urea ((NH2)2CO) according to an N / Ti atomic proportion of 0.4 to 1.1, thus preparing in-situ synthetic TiN mixed powder; preparing Mo-Fe powder, V-Fe powder, Cr-Fe powder, Mn-Fe powder, Si-Fe powder, Fe powder, Ni powder, the colloidal graphite and a rare-earth raw material according to proportions required by adhesive-phase metal chemical component mass proportions, filling and ball-milling in a steel ball, adding absolute ethyl alcohol as a medium and PVA (Polyvinyl Acetate) in the steel ball, drying slurry after ball milling, pressing, forming and sintering, thus obtaining steel bonded alloy. According to the preparation method disclosed by the invention, an in-situ reaction synthesis technology and a liquid-phase sintering technology are combined, the particle size is small, the surface has no sharp corner, a matrix interface is better in bonding, and the interface is clear. The preparation method of the steel bonded alloy is capable of increasing the comprehensive mechanical property of the alloy, the cost is low, and the technology is simple and convenient.