The invention provides a high-nitrogen, low-nickel, high-temperature flux-cored welding wire and a preparation process. The high-nitrogen, low-nickel, high-temperature flux-cored welding wire is composed of the following elements by mass percentage: C: below 0.04wt%, Si: below 0.8wt%, Mn: 0.5~5.0wt%, Cu: 1.0wt% or less, Ni: 25~33wt%, Cr: 17~26wt%, Mo: 3.0~6.0wt%, Nb: 3.0~5.0wt%, N: 0.1~0.4 wt%, Ti: 0.4~1.1wt%, Al: 0.1~0.5wt%, Ti / Al: 1.8~2.3 and Ti+Al: 0.5~1.5wt%, (Ti+Al) / N: 1.5~4.0, V : 0.04 to 0.12 wt%, Fe: the remainder. The invention adopts low-cost N to replace part of Ni elements, and prepares a new type of welding material used for welding 316L and part of nickel-based superalloys and whose high-temperature performance is not lower than that of nickel-based flux-cored welding wires, and simultaneously solves the problem of high price and scarcity of Ni. question. The high-nitrogen, low-nickel, and high-temperature flux-cored welding wire prepared by the invention can be used under high temperature (600-700° C.) conditions, and has excellent high-temperature mechanical properties, thermal crack resistance and high-temperature corrosion resistance.