The invention provides a preparation method for oxygen-containing titanium alloy or oxygen-containing zirconium alloy. According to the preparation method for the oxygen-containing titanium alloy or the oxygen-containing zirconium alloy, metallic oxide is used as an oxygen source, and is mixed with an alloy material, and the mixture is smelted to obtain the oxygen-containing titanium alloy or theoxygen-containing zirconium alloy; the melting point of the metallic oxide is equal to or lower than 2500 DEG C; and the activity of the metallic elements in the metallic oxide is lower than that of titanium or zirconium. According to the preparation method for the oxygen-containing titanium alloy or the oxygen-containing zirconium alloy, the metallic oxide which is low in melting point and contains the metallic oxide with the metallic elements with the activity lower than that of titanium or zirconium is used as the oxygen source, the metallic oxide is mixed with the alloy raw material, and in the process of smelting the mixture, the metallic oxide can carry out the transposition reaction with the titanium or the zirconium in the high-temperature molten state or the molten state, so thatthe oxygen in the metallic oxide dissolves in the metallic matrix, and the oxygen-containing titanium alloy or the oxygen-containing zirconium alloy with uniform ingredients can be obtained; and because the amount of the added metallic oxide is very small, and the metallic elements in the metallic oxide are the common alloy elements in the titanium alloy or the zirconium alloy, the influence caused by the metallic elements, brought in by the metallic oxide, on the performance of the alloy is low.