The invention prepares FeNiCrTi/NiAl-A12O3 nanocomposite materials by a method of in situ synthesis by thermite reaction with sol-gel. The nanocomposite material has high intensity at high temperature, high tenacity at room temperature, good oxidation resistance and good resistance to thermal corrosion. The method of the invention comprises: igniting thermite mixture to produce a high temperature melt and putting the high temperature melt into a fast-cooling mold, thereby obtaining the FeNiCrTi/NiAl—Al2O3 nanocomposite material. The thermite mixture contains Fe2O3, NiO, Cr2O3, CrO3, Al and TiO2 gel. The composite material is featured by small size of grains.