The invention belongs to the field of wastewater treatment materials and discloses an aluminum alloy strip and application of the aluminum alloy strip to dyeing wastewater treatment. A preparation method of the aluminum alloy strip comprises the steps of compounding materials comprising, by element percentage, 80-84% of Al, 14-18% of Fe and 2% of Y, and conducting surface pre-treatment on metal-block raw materials of the Al, the Fe and the Y; melting the pretreated raw materials to be uniform in a vacuum melting furnace under the conditions that a titanium sponge serves as oxygen absorbent andhigh-purity argon gas serves as protective gas, so that an aluminum alloy mother ingot is obtained; and then, conducting surface pretreatment on the obtained aluminum alloy mother ingot, so that thealuminum alloy strip is obtained through a melt-spinning method. An aluminum alloy obtained through melt-spinning is of a nanocrystalline or ultra-fine crystalline structure; compared with an amorphous alloy, the wider element scope is achieved; and the aluminum alloy strip has the beneficial effects of being good in degrading effect and low in cost.