Disclosed is a method for preparing vanadium or vanadium alloy powder from a vanadium-containing raw material through a shortened process, including: calcinating a mixture of a vanadium-containing raw material and an alkali compound for oxidation to form a water-soluble vanadate; purifying the vanadate followed by vanadium precipitation to produce an intermediate CaV2O6 with high purity; dissolving CaV2O6 in a molten-salt medium together with other raw materials to form a uniform reaction system; and introducing a reducing agent to the system followed by separation, washing and drying to produce vanadium or vanadium alloy powder having a particle size of 50-800 nm and a purity of 99.0 wt % or more. The method can continuously process vanadium-containing raw materials to prepare vanadium or vanadium alloy powder.