The invention discloses a reinforcing and toughening PVC pipe and a preparation method thereof. The PVC pipe is prepared from the following raw materials in parts by weight: 190-200 parts of PVC resin, 8-10 parts of active light calcium carbonate, 5-7 parts of cubic boron nitride micropowder, 3-4 parts of calcium stearate, 10-14 parts of 2.5-bis(5-tertbutyl-2-benzoxazlyl) phiophen, 1-3 parts of an antioxidant DLTP, 0.7-1 parts of a current-based organic tin stabilizer, 6-8 parts of nitrile rubber, 3-5 parts of oxidized polyethlene wax, 4-6 parts of microcrystalline wax, 2-3 parts of carbon black, 6-9 parts of zinc borate, 2-8 parts of acrylic ester, 2-3 parts of alkylpolyamine ethoxylate, 5-6 parts of dibasic lead phosphate and 8-10 parts of auxiliaries. The PVC pipe disclosed by the invention realizes reinforcing and toughening, and has excellent heat resistance, weather resistance, light resistance, ageing resistance, tensile strength and impact strength, the service life of the PVC pipe is prolonged, and the additional value and the application range of the PVC pipe are increased and expanded.