The invention relates to the technical field of aluminum alloy powder materials for 3D printing, in particular to a high-strength and tough AlCrSc alloy powder for 3D printing and its preparation method and application. The alloying elements of the aluminum alloy powder material for 3D printing provided by the present invention include: Cr: 1.0-4.0wt%, Sc: 0.3-1.1wt%, Zr: 0.1-0.6wt%, Si: 0.5-1.2wt%, Mn : 0.1~0.7wt%, Mg: 0~6.0wt%, trace element: <0.1wt%, the balance is Al; the trace element is one of Ti, Fe, Ni, Ce, Sr, Er, La or several. Studies have shown that the aluminum alloy powder obtained by controlling the above conditions, the printed parts formed by 3D printing technology have high density, strength, plasticity, corrosion resistance, yield strength ratio and fatigue performance, and at the same time solve the problem of the printing process. Soot and oxidation problems, thereby improving the anti-oxidation and anti-fatigue properties of printed parts. The 3D printed parts obtained by the present invention have great potential prospects in engineering applications such as load-bearing parts, lightweight integrated parts, and radiator replacements.