A method for preparing vanadium-nitrogen alloy, the method including: 1) mixing and pressing a vanadium-containing compound, an agglutinant, and a carbon-premixed reducing agent to yield a spherical raw material, and air drying the spherical raw material; and 2) mixing the spherical raw material with a granular carbonaceous reducing agent to yield a mixture, and continually feeding the mixture into a shaft kiln of a medium frequency induction furnace, purging the shaft kiln with pure nitrogen and maintaining a furnace pressure at between 0.01 and 0.03 mPa, drying the mixture at a temperature of between 100 and 600° C., carbonizing and nitriding at a temperature of between 900 and 1350° C., cooling the resulting product to less than 100° C., and discharging the product.