The invention discloses a high-strength Mg-Ca-Mn-Al-Zn wrought magnesium alloy containing a light rare earth element lanthanum and a preparation method of the high-strength Mg-Ca-Mn-Al-Zn wrought magnesium alloy, and belongs to the field of wrought magnesium alloy materials. The high-strength Mg-Ca-Mn-Al-Zn wrought magnesium alloy comprises the following components of, in percentage by mass, 0.10to 1.50% of calcium, 0.10 to 1.8% of aluminum, 0.10 to 1.9% of zinc, 0.10 to 4.8% of manganese, 0.20 to 3.00% of lanthanum, and the balance magnesium and unavoidable impurities (Si, Ni, Cu and the like); and the preparation method of the magnesium alloy comprises the following steps that a pure magnesium cast ingot is melt firstly, after fully melting is carried out, metal calcium, manganese, aluminum, zinc, light rare earth lanthanum and the like are added, fully stirring is carried out, casting into a cast ingot is carried out, then homogenizing treatment on the cast ingot is carried out, and extruding through a reverse extrusion process is carried out to obtain a corresponding extruded profile. According to the high-strength Mg-Ca-Mn-Al-Zn wrought magnesium alloy containing the light rare earth element lanthanum and the preparation method of the high-strength Mg-Ca-Mn-Al-Zn wrought magnesium alloy, the novel wrought magnesium alloy with high strength and high plasticity is preparedthrough smelting, homogenizing treatment and subsequent extrusion (reverse extrusion) processes, the strength and toughness of the novel wrought magnesium alloy are enhanced, and the novel wrought magnesium alloy has good mechanical properties.