The present invention provides a grain refiner for a magnesium alloy, which has a structure wherein SiC is dispersed in an aluminum matrix, and a method for preparing the grain refiner for a magnesium alloy, comprising a molding step in which SiC is dispersed in an aluminum matrix having solid-phase aluminum powder integrally formed therein due to solid-phase diffusion as a result of pressurizing a powder mixture of the solid-phase aluminum powder and solid-phase SiC powder.
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