The invention provides a preparation method of a sponge-structured alloy ternary oxide layer-loaded hydrogen evolution electrode material. The preparation method specifically comprises the following preparation processes: a process of electrically depositing an organic solvent of a La-Y base layer of a sponge structure, a process of electrically depositing a Ni-Cu middle layer on the surface of the La-Y base layer, a process of electrically compositing and depositing Ni-Cu and RuO2 particles on the surface of the Ni-Cu middle layer, a process of performing atomic diffusion treatment, and a process of anodizing a sponge-structured Ni-Cu-La-Y alloy base body-loaded RuO2 layer. The novel hydrogen evolution electrode material prepared by the preparation method disclosed by the invention is high in chemical stability and electrocatalytic activity, has excellent low hydrogen evolution overpotential and high specific surface area, and can be applied to large-scale industrial production for preparing hydrogen by low-energy-consumption water electrolysis.