The invention discloses a preparation method of a high-corrosion-resistance biodegradable magnesium alloy and belongs to the technical field of materials. The preparation method comprises the following steps: (1) preparing metallic magnesium, metallic zinc, metallic silver and metallic calcium as raw materials; (2) heating metallic magnesium to 760+ / -5 DEG C under the protection of N2 and SF6 mixed gas, melting, then sequentially adding metallic silver, metallic calcium and metallic zinc, stirring and uniformly mixing; (3) cooling to 740+ / -5 DEG C, introducing argon, and preserving heat and standing at 740+ / -5 DEG C for 10-20 minutes; (4) cooling to 720+ / -5 DEG C and casting; (5) heating to 300-320 DEG C and preserving the heat for 2-4 hours under the coverage of graphite powder, increasing the temperature to 350-450 DEG C, preserving heat for 8-12 hours, and cooling by water; (6) preserving the heat at 250-350 DEG C for 25-35 minutes, and then carrying out high-temperature plastic deformation; and (7) deforming at normal temperature and intermediately annealing for a plurality of times, and finally cooling by air to normal temperature. According to the method, by virtue of the single-phase fine-grain treatment, the magnesium alloy has high corrosion resistance and good mechanical property; the magnesium alloy can be used for manufacturing different implantable devices.