The invention discloses a 
Laves phase eutectic 
alloy with high strength, high 
hardness and high 
thermal stability and a preparation method of the 
Laves phase eutectic 
alloy. The preparation method comprises the following steps that 1, high-purity 
metal raw materials are polished and cleaned, and proportioning is conducted according to chemical components Cr-22.93 Fe-53.68 Nb (at.%); and 2, the 
metal raw materials are sequentially put into a water-cooled 
copper crucible of a non-consumable 
electric arc melting furnace according to the sequence that the melting points are from low to high, the vacuum degree of a furnace body is increased to 3 * 10 <-3> Pa to 6 * 10 <-3> Pa, high-purity 
argon is introduced, the air pressure in the furnace is controlled to be 0.05 Pa, and in an 
electric arc melting process, an 
alloy ingot is turned over and remelted five times to obtain an eutectic alloy product. According to the eutectic alloy, in a microscopic structure, a full eutectic 
Laves phase / Nbss phase is arranged in dendrites, a full eutectic Laves phase / mu phase / Nbss phase is arranged among the dendrites, the eutectic alloy has high strength, high 
hardness and high 
thermal stability, meanwhile, low-cost Fe is adopted for replacing Cr, the material cost is low, the manufacturing process is simple, rapid and efficient, the eutectic alloy has the advantages of being small in 
crystallization temperature interval, good in fluidity, small in component segregation and the like, and is suitable for preparing large-size high-quality components with uniform components and structures.