The invention belongs to the technical field of functional metal alloy materials and relates to a smelting method applicable to La-Mg-Ni series and Mg2Ni type hydrogen storage alloys, which comprises the following concrete steps of: weighing the components of the La-Mg-Ni series hydrogen storage alloy as ABy according to a stoichiometric proportion, wherein the A is LaxMg1-x, the B is Niy-zCz, and the C is Mn, Fe, Mo, Co, Al, Ti, Si, V, Cr, Cu, Zn, Zr, Nb, W, Hf, Ta, B, P or / and Sn, La, Mg and Ni, adding into a crucible of a medium-frequency induction smelting furnace, and placing on a feeding device in the furnace after carrying out surface processing on Mg blocks; carrying out vacuum pumping until the vacuum degree is 10-2 Pa, introducing He and Ar protective gases mixed according to a certain proportion until the air pressure in the furnace reaches 0.01-0.1MPa, regulating the power range to be 15-35kW, and controlling the temperature at 600-1300 DEG C until metals are molten; and stopping electrifying for 1-10 minutes, adding the Mg into the crucible through the feeding device in the furnace, regulating the power range to be 15-35kW, controlling the temperature at 600-1300 DEG C and casting after smelting for 1-10 minutes. The process has simple operation, good controllability, stable components of the prepared hydrogen storage alloy and lower cost and can realize low-cost and large-scale production.