Abstract: The present disclosure belongs to the field of materials with metal structures, and specifically relates to a preparation method for a nano-oxide dispersion strengthened steel. The method includes mixing a ferrochromium alloy, a ferrotungsten alloy, a ferroalloy containing a rare earth element, an oxygen source and a reduced iron powder to obtain a mixture; wrapping the mixture in a steel strip, and conducting drawing reducing to obtain a flux-cored wire; and conducting arc additive manufacturing on the flux-cored wire on a substrate, and then conducting heat treatment to obtain the nano-oxide particle dispersion strengthened steel.