The invention relates to the preparation of titanium alloy, more specifically an Al-Nb-Ta intermediate alloy for titanium alloy preparation and process for preparing the same, wherein the constituents (by weight percent) of the alloy include, Al 19-28%, Ta 23-27%, and balancing Nb. The preparing process comprises, employing furnace outside ignition smelting method, operating according to routine procedures, the raw material drying temperature being 70-80 deg. C, the drying time no less than 24 hours, calculated based on 1kg of Nb2O5, the charged mixture includes, Ta2O5 0.383-0.42kg, Al 0.75-0.913kg, CaF2 0.15-0.20kg, KCLO3 0.30-0.40kg, the raw material shoving temperature being 30-60 deg. C. The advantages of the invention include facilitated preparation of titanium alloy, low making cost, homogeneous alloying, good oxidation resistance, easy storing, transport and fragmenting.