The invention discloses a high-toughness abrasion-resistant alloy steel for an excavator bucket, which comprises the following chemical components in percentage by weight: 0.24-0.28% of C, 0.6-1.0% of Si, 1.2-1.5% of Mn, 0.6-1.1% of Cr, 0.3-0.5% of Mo, 0.05-0.10% of V, 0.004-0.006% of B, 0.08-0.12% of Ti, 0.01-0.025% of Ce, 0.02-0.03% of La, P less than or equal to 0.03%, S less than or equal to 0.03% and the balance of iron and impurities. Compared with the traditional high-manganese steel, the high-toughness abrasion-resistant alloy steel disclosed by the invention has the advantages of higher abrasion resistance, toughness and impact resistance; and the high-toughness abrasion-resistant alloy steel can be used for ensuring that the normal working of an excavator, preventing and controlling the early brittle failure, reduces the shut-down and maintenance times, increases the labor productivity and the equipment utilization ratio and reduces the production cost.