A titanium alloy blade tip with a wear-resistant protective coating and a preparation method thereof are provided. The method includes: (1) spraying MCrAlY alloy powder on a surface of a titanium alloy blade tip by high velocity oxygen fuel (HVOF) spraying at a spraying distance of 300-400 mm to obtain the titanium alloy blade tip with a MCrAlY layer on the surface; where M is one of Ni and NiCo; (2) pre-plating Ni at a current density of 4-10 A/dm2; (3) placing the pre-plated titanium alloy blade tip in a Watt solution, covering a surface of the pre-plated titanium alloy blade tip obtained in the step (2) with abrasive particles, and then performing composite electroplating at a current density of 0.5-2 A/dm2. In the method, the wear-resistant protective coating with the high adhesion strength is prepared on the titanium alloy blade tip, and the wear-resistant protective coating has good wear resistance.