The invention discloses an electrode material for TiNiFe alloy vacuum consumable smelting and preparation thereof in the technical field of plate electrode materials. The electrode material comprisesmore than two sections of electrode plate materials, every two adjacent sections of electrode plate materials are spliced by adopting a high-low staggered mode, the electrode plate materials each comprise electrode plate material units with the same quantity, a high-purity titanium plate-high-purity iron plate-high-purity nickel plate composite plate material which is of a sandwich structure is adopted as each electrode plate material unit, and the electrode plate material units in every two adjacent sections of the electrode plate materials are spliced in a high-purity titanium plate-high-purity iron plate-high-purity nickel plate and high-purity nickel plate-high-purity iron plate-high-purity titanium plate mode aligning splicing mode. According to the electrode material for TiNiFe alloyvacuum consumable smelting, component batching is precise, the welding connection strength is high, and a foundation is laid for vacuum induction smelting of a TiNiFe alloy with the uniform components and the low impurity content; and the preparation method is simple and can be popularized to preparation of plate electrode materials for vacuum consumable smelting of other titanium alloys.