For the problem that the Rivest Cipher 4 (RC4) algorithm has invariant weak key, the randomness of the key stream sequence is not high and the initial state of the algorithm can be cracked, an improved RC4 algorithm based on elliptic curve was proposed. In the algorithm, the initial key was generated by using elliptic curve, Hash function and pseudo-random number generator, and a nonlinear transformation was performed under the action of the S-box and the pointer to finally generate a key stream sequence with high randomness. The randomness test carried out by National Institute of Standards and Technology (NIST) shows that the frequency test, run test and Maurer are 0.13893, 0.13081, and 0.232050 respectively higher than those of the original RC4 algorithm, which can effectively prevent the generation of invariant weak keys and resist the "sentence" attack. The initial key is a uniformly distributed random number without deviation, which can effectively resist the distinguishing attack. The elliptic curve and Hash function have one-way irreversibility, the pseudo-random number generator has high password strength, the initial key guess is difficult to assign and is not easy to crack, which can resist the state guessing attack. Theoretical and experimental results show that the improved RC4 algorithm is more random and safe than the original RC4 algorithm.