The invention discloses a preparation method for a graphene rare earth aluminum alloy high-conductive material. The method comprises the following steps: adding aluminum scrap, silicon calcium alloy, copper aluminum alloy, zinc aluminum alloy, magnesium ingot, rare earth aluminum alloy and graphene into a smelting furnace for smelting; performing ladle analysis, thereby acquiring an aluminum alloy solution; casting and rolling the aluminum alloy solution, thereby acquiring aluminum alloy; performing homogenization treatment on the aluminum alloy; performing ageing treatment, thereby acquiring the graphene rare earth aluminum alloy high-conductive material. According to the preparation method for the graphene rare earth aluminum alloy high-conductive material, provided by the invention, the technical parameters are reasonably set, the graphene structure is optimized and the overall performance of the aluminum alloy is effectively improved, so that the acquired graphene rare earth aluminum alloy high-conductive material has excellent electric conductivity, heat resistance, arc altitude resistance and mechanical properties.