The invention relates to a preparation method and application of a metal fiber shielding felt, and in particular relates to a metal fiber shielding felt capable of playing a good attenuation offset role on foreign electromagnetic wave, belonging to the technical field of shielding materials. The metal fiber shielding felt is prepared by comprising the steps of conducting surfaces copper plating, drawing, copper removal, rinsing, stretch-breaking, net forming, sintering, cooling and postprocessing on purchased permalloy wires, thus obtaining the metal fiber shielding felt product. The metal fiber shielding felt is wide in range of application, including shielding of small electronic devices to shielding rooms, shielding canopies, shielding communication cables, transformation rooms, shielding boxes and cabinets. The obtained product is thin, soft, good in reflection property, and good in vortex, and plays a good attenuation offset role on foreign electromagnetic wave, thus being capable of achieving a good shielding effect.