The invention relates to a method for preparing a SmCo5 film by using element targets. The prepared material comprises a Cu bottom layer, a SmCo5 magnetic layer and a Cr anti-oxidation layer. The magnetic layer is formed by single Sm and Co thin layers through diffusion at high temperature. The film is prepared by adopting a pulse laser deposition method. A substrate is made of Si (100) monocrystal. The vacuum degree of a vacuum chamber is 2*10<-4>Pa. The deposition temperature is 400 DEG C. The laser frequency is 8Hz and the energy is 190mJ/pulse. The time for depositing the Cu bottom layer is 60 minutes, then Sm/Co targets are alternately deposited, the time for depositing a Sm target is 6 seconds and the time for depositing a Co target is 3 minutes and the operations are repeated by ten times. The Cr anti-oxidation layer is plated on the magnetic layer and the deposition time is 5 minutes. A sample is annealed for 30 minutes at 700 DEG C and then is naturally cooled to room temperature in the vacuum chamber. When the SmCo5 film is prepared, the process is different from the past preparation process. The method is a new method for preparing the SmCo5 film.