The invention provides a carbon nitrogen vanadium alloy containing titanium and the alloy comprises the following components by weight: vanadium of 55-80%, titanium of 0.1-20%, carbon of 0.1-10%, nitrogen of 8-20% and density hardening agent of 0.1-5%.The invention also provides a method of preparing the carbon nitrogen vanadium alloy containing titanium, and the method comprises the following steps: (1) calculating and weighing powdery vanadium-contained base material, titanium-contained supplementary material, carbonaceous reducing agent and density hardening agent according to the weight percentages of vanadium, titanium, carbon and the density hardening agent; (2) performing roll-grinding to the raw materials proportioned in the step (1), pressing the mixed materials into blanks afterbeing grinded; (3) putting the blanks formed in the step (2) into a reduction reaction furnace for being sintered, adding nitrogen gas or alkaline gas or other gas mixture into the reduction reactionfurnace at any temperature below 650 DEG C, keeping the temperature for 1-3 hours when the temperature comes to 1000-1400 DEG C, then the furnace and the materials therein are cooled under 100 DEG C,finally the materials are took off the furnace.