The invention discloses a high-crush-resisting rapid degradation magnesium alloy and a preparation method thereof. The alloy is prepared from, by mass percent, 5.0-10wt% of Zn, 1.20-6.0wt% of Cu, 1.50-3.0wt% of Ni, 1.50-5.0wt% of Nd, 0.5-1.5wt% of Ca and the balance Mg and the other impurity elements. According to the high-crush-resisting rapid degradation magnesium alloy and the preparation method thereof, Cu, Nd, Ca and other alloy elements are added to improve the crush resistance of a material, and the degradation rate is increased through Cu and Ni. According to the prepared high-crush-resisting rapid degradation magnesium alloy, the corrosion rate in a 3% KC1 solution at the temperature of 25 DEG C can reach 7.4 mg cm<-2>h<-1>, and the corrosion rate in the 3% KC1 solution at the temperature of 93 DEG C can reach 88 mg cm<-2>h<-1>; and high crush resisting strength is achieved, and the high-crush-resisting rapid degradation magnesium alloy and the preparation method thereof are suitable for the field of shale gas extraction with a rapid corrosion requirement.