The present invention relates to a high-purity cobalt preparation method, which comprises: cobalt solution extraction separation and purification, wherein a P507 organic extractant is prepared from P507 by using a saponification way, a cobalt chloride solution is added, extraction separation is performed by using a stirring extraction method, acid liquid washing and acid liquid back extraction are performed, the solution obtained after the back extraction is subjected to deep purification treatment by using a macroporous adsorption resin, and the obtained solution is concentrated to obtain the high-purity cobalt solution; electrodepositing, wherein the high-purity cobalt solution enters a self-heating electrolysis bath through a flow baffle from the bottom portion of the electrolysis bath from bottom to top so as to carry out single circulation electrodepositing, the concentration, the amount and the pH value of the solution in the electrolysis bath maintain the consistent state, and electrodepositing is performed to obtain high-purity electrodepositing cobalt; and vacuum melting, wherein the high-purity electrodepositing cobalt is subjected to vacuum melting so as to prepare the high-purity cobalt. According to the present invention, the product purity is more than 5N, the impurity enrichment problem caused by the electrolyte concentration difference is successfully solved, the cost is reduced, and the cross-contamination of the electrolyte is prevented.