The invention discloses a laser cladding repair method of a tower wheel of a wire drawing machine. Firstly, the working surface wear size of the tower wheel is measured; then, the working surface fatigue layer of the tower wheel is removed; rare metal alloy powder is prepared by a mechanical mixing method, and comprises the following components in percentage by mass: 3.5-5.0% of C, 15.0-20.0% of Cr, 3.5-5.5% of Si, 3.0-4.5% of B, 6.0-10.0% of W, 2.0-4.0% of Y, Fe less than 5.0%, and the balance of Ni; a coaxial powder feeding method is adopted, and a high-power semiconductor laser is used for scanning to clad the alloy powder on the working surface of the tower wheel; the clad tower wheel is put in an insulation box for slowly cooling; and the cooled tower wheel is machined to obtain the tower wheel whose size, shape and precision all satisfy the requirements. The method is simple in process, strong in controllability and low in energy consumption; the repaired tower wheel generates no cracks and air holes; and the service life is longer.