The invention provides a two-step method for preparing high-purity titanium, and relates to the field of electrochemical metallurgy. The two-step method includes the two steps of preparation of low-valence TiOx (x<1) and extraction of high-purity titanium. Firstly, a TiOx (x<1) raw material is prepared with graphite or an inert electrode as the anode and a metal material as a cathode in an electrolyte system with oxides (TiO2+MgO+Al2O3+CaO) and a small quantity of fluorides as additives; and then in a chloride electrolyte system, high-purity titanium is extracted through fused salt with TiOx as the anode and a metal material as a cathode, and in the process, free-state [O] generated in an electrolyte can further oxide residual low-valence TiOx into high-valence TiO2 which returns to the first step to serve as an oxide titanium ion source raw material. The novel two-step method for extracting high-purity titanium through fused salt has the characteristics that the technique is simple, energy consumption is low and the titanium recovery rate is high, and can achieve industrial extraction of high-purity titanium.