The invention provides a tungsten carbide-intermetallic compound hard alloy of a twin structure. The alloy comprises a hard phase WC and an adhesive phase Ni3Al or FeAl or Fe3Al, wherein the adhesive phase is 10 to 40 volume percent. A manufacturing method for the alloy sequentially comprises the following steps of: mixing Ni powder or Fe powder, Al powder and fine WC powder uniformly according to the component proportion of the Ni3Al or the FeAl or the Fe3Al; spreading the mixed powder in a graphite container, heating the mixed powder to the temperature of between 900 and 1,200 DEG C under a non-oxidizing atmosphere, preserving the heat for over 1 hour, naturally cooling the heated powder, and coating the adhesive phase to the surface of the fine WC; grinding, crushing and screening the mixture of the fine WC and the adhesive phase; performing deoxidation pretreatment at the temperature of 400+/-50 DEG C under the hydrogen atmosphere; performing pre-wet milling on 52.31 to 75.97 weight percent or 55.79 to 76.97 weight percent or 53.66 to 76.37 weight percent of crude granular WC powder and the balance of mixed powder to obtain a wet milled mixture; performing spray drying and pressure molding; and performing low-pressure liquid phase sintering at the temperature of between 1,250 and 1,550 DEG C, and thus obtaining the tungsten carbide-intermetallic compound hard alloy of the twin structure. The crude crystal WC and the fine crystal WC are matched uniformly, so the alloy has high densification, high strength, good abrasion resistance and excellent high-temperature oxidation resistance and corrosion resistance; and the preparation method is simple and low in cost.