The invention relates to a magnetic refrigeration alloy material and preparation thereof. The alloy material has a general molecular formula as Mn1-xSixCoGe, wherein a data range of x is 0.01 to 0.09.The preparation comprises the following steps of (1) mixing Mn, Si, Co, and Ge elementary substances according to a molar ratio (1 to x):x:1:1, then melt mixing under the inert gas protection, and obtaining a mixed sample; (2) annealing the mixed sample, and obtaining the magnetic refrigeration alloy material. Compared with the prior art, the magnetic refrigeration material provide by the invention has the advantages of favorable curie temperature and magnetothermal effect, capability of effectively solving a heat stagnation problem brought by a first-order phase transformation material as asecond-order phase transition material, simplicity and practicability in preparation, and the like.