A preparation method of a high-carbon bearing steel, comprising the following steps: preparation raw materials of the high-carbon bearing steel are smelted to get steel ingots; the steel ingots having a chemical composition corresponding to the chemical composition of the high-carbon bearing steel as below: C: 0.80 to 1.20 wt%, Cr: 0.40 to 2.0 wt%, Mn: 0.15 to 0.75 wt%, Si: 0.15 to 0.75 wt%, Nb: 0.03 to 0.20 wt%, Mo: 0.03 to 0.20 wt%, optionally V: 0.03 to 0.20 wt%, P ≤ 0.015 wt%, S ≤ 0.01 wt%, the remaining is Fe and unavoidable impurities; wherein the total quantity of Nb, Mo and V is 0.15 to 0.30 wt%; the steel ingots are homogenized and then processed into bars; the bars are successively subjected to a spheroidizing annealing, a quenching and a tempering to get the high-carbon bearing steel, wherein the smelting process is an electro-slag remelting, Vacuum Induction Melting + Vacuum Arc Remelting, an out-of-furnace refining or a vacuum induction melting, wherein the temperature for the homogenization is 1100 to 1250 °C, and the holding time is 2 to 6 hours, wherein after completion of the homogenization, the bars are processed by a hot forging or a hot rolling to obtain processed bars, and the processed bars are cooled in air to room temperature, and the temperature for the hot forging or the hot rolling is 1150 to 1200 °C, wherein the process of the spheroidizing annealing comprises: the bars are held at 800 to 860 °C for 0.5 to 12 hours, then cooled down to 680 to 740 °C and held for 0.5 to 12 hours, and finally cooled in the air to room temperature, wherein the temperature for the quenching is 820 to 860 °C, the holding time is 0.10 to 1.0 hours; and the cooling process for the quenching is an oil quenching, wherein the temperature for the tempering is 130 to 200 °C, the holding time is 0.5 to 3.5 hours; and the cooling process for the tempering is an air cooling. C: 0.80 to 1.20 wt%, Cr: 0.40 to 2.0 wt%, Mn: 0.15 to 0.75 wt%, Si: 0.15 to 0.75 wt%, Nb: 0.03 to 0.20 wt%, Mo: 0.03 to 0.20 wt%, optionally V: 0.03 to 0.20 wt%, P ≤ 0.015 wt%, S ≤ 0.01 wt%, the remaining is Fe and unavoidable impurities; wherein the total quantity of Nb, Mo and V is 0.15 to 0.30 wt%; the steel ingots are homogenized and then processed into bars; the bars are successively subjected to a spheroidizing annealing, a quenching and a tempering to get the high-carbon bearing steel, wherein the smelting process is an electro-slag remelting, Vacuum Induction Melting + Vacuum Arc Remelting, an out-of-furnace refining or a vacuum induction melting, wherein the temperature for the homogenization is 1100 to 1250 °C, and the holding time is 2 to 6 hours, wherein after completion of the homogenization, the bars are processed by a hot forging or a hot rolling to obtain processed bars, and the processed bars are cooled in air to room temperature, and the temperature for the hot forging or the hot rolling is 1150 to 1200 °C, wherein the process of the spheroidizing annealing comprises: the bars are held at 800 to 860 °C for 0.5 to 12 hours, then cooled down to 680 to 740 °C and held for 0.5 to 12 hours, and finally cooled in the air to room temperature, wherein the temperature for the quenching is 820 to 860 °C, the holding time is 0.10 to 1.0 hours; and the cooling process for the quenching is an oil quenching, wherein the temperature for the tempering is 130 to 200 °C, the holding time is 0.5 to 3.5 hours; and the cooling process for the tempering is an air cooling.