The invention provides a method for preparing a molybdenum carbide powder through reduction of propyl alcohol. The cheap propyl alcohol is used as a reduction material, the propyl alcohol vapor takingargon as a carrier directly contacts and reacts with a molybdenum oxide powder at the relatively low temperature of 800-1150 DEG C to produce the molybdenum carbide powder, the reduction efficiency is greatly improved, and the carbonization is conducted at the same time. Compared with the traditional process, the carbonization temperature of the method is low, the reaction speed is accelerated, the technological process is shortened, the costs for the raw materials and the energy consumption are also lowered, the purpose of efficiently producing the molybdenum carbide powder at low cost is fulfilled, a series of problems like high preparation temperature, low production efficiency, high cost and the like in the existing production process of the molybdenum carbide powder are well solved,and the method has an excellent industrial application value.