The invention belongs to the technical field of metal material preparation, and discloses a high-strength and corrosion-resistant aluminum alloy and its preparation method and application, including Mg 0.6-1.0%, Si 0.8-1.2%, Cu 0.1-0.3%, and Mn by weight percentage 0.4‑1.0%, Cr 0.15‑0.35%, Cd 0.05‑0.1%, and Fe≤0.5%. The present invention adds Cd, adopts three-stage homogenization heat treatment, and the Cd element is preferentially homogenized and diffused, and then the Mn and Cr elements take the Cd atomic cluster as the nucleation site, and precipitate to form a highly dispersed AlMnCr phase containing Cd elements, which can be used as a deformation regenerated phase. The nucleation particles of the crystallization realize the grain refinement of the second phase particle-induced recrystallization; the present invention optimizes the design of the aluminum alloy alloy composition based on the principle of alloying, that is, the mass ratio of Mg to Si is (0.65‑0.9):1 The mass ratio of Cu and Si is (0.15‑0.25): 1, and the Mg of highly dispersed distribution is obtained 2 Si strengthening phase and higher strength without forming a Cu-containing phase with poor corrosion resistance; through the present invention, an aluminum alloy with medium and high strength, high plasticity and high corrosion resistance can be obtained, which is suitable as an aluminum alloy for automotive structural parts or applied in its profile.