The invention discloses a copper-iron alloy wire rod. The copper-iron alloy wire rod comprises the following components of, in percentage by mass, 8-50% of Fe and the balance copper and other inevitable impurities, wherein the inevitable impurities comprise the following components of, in percentage by mass, less than or equal to 0.05% of C, less than or equal to 0.1% of H, less than or equal to 0.1% of O, less than or equal to 0.01% of S and less than or equal to 0.5% of other impurities. The invention further provides a preparation method of the copper-iron alloy material. The technical means of spin-strip method powder preparation, crushing and mixing and forming and sintering are combined. According to the copper-iron alloy wire rod and the preparation method of the copper-iron alloy wire, the preparation methods of adopting cooper-iron alloy powder, powder forming and sintering blanking and billet calendar filamentation; and the copper-iron alloy wire rod and the preparation method thereof are provided, the Fe content of the prepared copper-iron alloy wire rod is larger than 8%, the component is uniform, the structure crystal grain is fine and compact, and the copper-iron alloy wire rod has high strength, conductivity and good electromagnetic shielding performance.