The invention relates to rare earth niobium tantalate fluorescent powder with adjustable luminous chroma, a preparation method and application of the rare earth niobium tantalate fluorescent powder. The fluorescent powder is niobate and tantalate which are activated by Eu3+, and the molecular formula of the fluorescent powder is R(1-z)EuzCaM3O10, wherein M is at least one of Nb and Ta, R is at least one of La3+, Sm3+, Gd3+, Lu3+ and Y3+, z is the molar percentage of Eu3+ doping amount, and z is greater than 0.0001 and less or equal to 1.0. The preparation method comprises the following steps of: weighing raw materials according to the proportion; porphyrizing and uniformly mixing the raw materials, and pre-sintering at a temperature of 300-1,000 DEG C; cooling, taking out the mixture and grinding; and calcining in an air atmosphere at a temperature of 1,200-1,500 DEG C. Along with the increase of the molar percentage of Eu3+ doping amount, the chroma of the fluorescent powder can be changed from blue green to white and then red. The fluorescent powder can be applied to various illumination display and photoluminescence chroma adjustment taking ultraviolet light or near-ultraviolet light as an excitation source.