The invention discloses a functional low-loss shape memory alloy micro-nano powder core filament for laser additive manufacturing and a preparing method thereof. The functional low-loss shape memory alloy micro-nano powder core filament is characterized in that the outer skin of the powder core filament is the pure metal of one element, with the highest boiling point, in all elements constitutingthe shape memory alloy, the powder core of the powder core filament is a mixture consisting of the elementary substance metal micrometer powders of the other elements, except the element with the highest boiling point, constituting the shape memory alloy, or the micro-nano powder consisting of the alloy micrometer powder of other elements and the nano powder with the reinforcing function, wherein,the nano powder in the micro-nano powder accounts for 0.5-4% of the mass of the whole powder core filament; and the preparing method mainly includes the preparation of micro-nano powder, skin formingand powder filling, opening closing and drawing filament forming. The shape memory alloy micro-nano powder core filament is used as the material for the laser additive manufacturing, and the characteristics of being low in loss of shape memory function, high in forming precision and the like are achieved.