The invention discloses high-strength, high-toughness and high-plasticity martensitic stainless steel, and belongs to the technical field of metallurgy. The martensitic stainless steel comprises the following components in percentage by weight: 0.15 to 0.4 percent of C, 0 to 0.12 percent of N, 0.2 to 2.5 percent of Si, 0.4 to 3.0 percent of Mn, less than or equal to 0.02 percent of S, less than or equal to 0.02 percent of P, 13.0 to 17.0 percent of Cr, 0 to 5.0 percent of Ni, 0 to 2.0 percent of Mo, 0 to 0.3 percent of V, 0 to 0.2 percent of Nb, 0 to 0.05 percent of Ti, 0 to 0.8 percent of Al and the balance of Fe and inevitable impurities. A preparation method comprises the following steps of (1) smelting molten steel according to the set components, and solidifying the molten steel to form an ingot blank by using a continuous casting machine or a casting mold; (2) hot-rolling the ingot blank to form a hot-rolled plate blank; (3) heating the hot-rolled plate blank to 950 to 1100 DEG C, preserving heat for 0.5 to 2 hours, cooling the plate blank to 25 to 200 DEG C, heating the plate blank to 350 to 500 DEG C, preserving heat for 10 to 60 minutes, and air-cooling the plate blank to room temperature. According to the martensitic stainless steel prepared by the method, dispersed remaining martensite is introduced into a microscopic structure, so that the strength, toughness and plasticity of the martensitic stainless steel are greatly improved.