The invention provides a metal powder cored wire specially used for hot-working die repair. The metal powder cored wire comprises a wire pipe wall and powder wrapped by the wire pipe wall. The powder is composed of, by mass, 4-8 parts of electrolytic manganese, 2-6 parts of 45# silicon iron, 1-4 parts of ferrotitanium, 20-35 parts of chromium metal, 20-30 parts of high-carbon ferro-chrome, 0-5 parts of graphite, 2-6 parts of ferrovanadium, 12-18 parts of ferromolybdenum, 2-4 parts of tungsten powder, 4-8 parts of nickel powder, 1-2 parts of nanometer chromium nitride powder, 2-6 parts of yttrium oxide powder, 1-2 parts of potassium feldspar and 1-4 parts of sodium fluosilicate. The nanometer chromium nitride powder is added, fine nitride interstitial phases are formed in deposited metal, and therefore the deposited metal has good toughness and anti-cracking capacity; yttrium oxide is added to the alloy powder, the deposited metal is purified, inclusions are nodulized, a nitride strengthening phase is promoted to be formed, and the anti-fatigue performance of the deposited metal is improved. A hot-working die is repaired through a gas metal arc welding technology in which the metal powder cored wire is combined with full-argon gas shielding. The obtained deposited metal has excellent high-temperature oxidation performance, abrasion resistance and cleanliness and good anti-fatigue performance.