The invention discloses a preparation method of a molybdenum alloy wire doped with lanthanum oxide and neodymium oxide and belongs to the technical field of material preparation. The preparation method is characterized in that raw materials required for preparing the molybdenum alloy wire comprise the following components of, by mass, 0.2-0.6% of the lanthanum oxide, 0.1-0.4% of the neodymium oxide and the balance high-purity molybdenum trioxide and unavoidable impurities. The lanthanum oxide and the neodymium oxide are simultaneously doped, the dispersion strengthening effect is enhanced, andthe strength and high-temperature resistance performance of the molybdenum alloy wire are further improved. According to the molybdenum-lanthanum-neodymium alloy wire prepared through the preparationmethod, compared with the strength of a molybdenum-lanthanum wire, the diameter of the molybdenum-lanthanum-neodymium alloy wire is 0.18 mm, the tensile strength of the molybdenum-lanthanum-neodymiumalloy wire can be improved by 10-20%, large current electrospark wire-electrode cutting is achieved, and the service life can be prolonged.