The invention discloses a preparation process of a heat dissipation and abrasion resistance material. The material comprises the following ingredients of FeSi powder (comprising 6.0 wt%-10 wt% of Si and the balance Fe), Fe78Si(22-x)Bx amorphous powder (the content is the atomic percent and x is 9-15), Fe73.5Cu1Nb3Si13.5B9 amorphous powder (the content is the atomic percent), Fe2O3 raw materials, Mn3O4 raw materials and ZnO raw materials. The preparation process comprises three main steps of preparation of pre-sintered materials, preparation of a part blank and rapid sintering of the part blank. The preparation process has the advantages that (1) the prepared part is high in hardness, not prone to being damaged and high in percent of pass; (2) the powder is pressed and formed in a mould, the shape and size precision is good in controllability, and operation difficulty is low; and (3) the sintering temperature is low, and the requirement for a hearth is not high.