The invention provides a silicon-germanium solid solution and a preparation method and application thereof. According to the silicon-germanium solid solution and the preparation method and application thereof, a composite material containing a silicon precursor and a germanium precursor serves as a cathode, an inert electrode serves as an anode, and a melt containing CaCl2 serves as an electrolyte, so that silicon-germanium solid solution powder is obtained through electrolysis; or, a conductive substrate serves as a cathode, an inert electrode serves as an anode, and a melt containing a silicon precursor, a germanium precursor and CaCl2 serves as an electrolyte, so that a thin film or an array electrode material of the silicon-germanium solid solution on the conductive substrate is obtained through electrolysis. According to the single-step controllable template-free preparation method provided by the invention, the Kirkendall effect is utilized, in the electrolytic process, the diffusion rate of germanium is larger than that of silicon, and a vacancy is formed on one side of the germanium, so that a silicon-germanium solid solution nano hollow structure is obtained; volume change in the charging and discharging processes is effectively relieved, and the cycle performance and rate performance of a battery are significantly improved; and a template is not needed, operation is convenient, and the silicon-germanium solid solution is suitable for large-scale industrial production.