The invention discloses a ferro-silicon nitride / alumina-chrome slag refractory matter for a cement kiln transition zone and a preparation method of the refractory matter, and belongs to the field of refractory matters. The refractory matter consists of the following raw materials: alumina-chrome slag, alumina micro powder and ferro-silicon nitride, and thermosetting phenolic resin is taken as a binding agent. During producing, the preparation method comprises the following steps: weighing various raw materials, uniformly mixing, compressing and moulding, drying as well as nitriding and sintering at 1200-1450 DEG C. The alumina-chrome slag, which is waste generated from the production of metallic chromium, basically has no industrial utilization value at present, the alumina-chrome slag contains 82-85wt% of aluminum oxide and 11-13wt% of chromium oxide, and mainly represented as a corundum-chromium oxide solid solution, the alumina-chrome slag is good in abrasion performance. By combining the ferro-silicon nitride and high-cost-performance alumina-chrome slag to generate beta-sialon from a reaction, the product disclosed by the invention is simple in process and low in cost, and excellent performance indexes are as follows: apparent porosity is 13-17%, volume density is 2.94-3.30g / cm<3>, cold crushing strength is 67-150MPa, refractoriness under load is higher than 1550 DEG C and thermal shock resistance is more than 12 times; and the refractory matter disclosed by the invention is excellent in abrasion performance and erosion resistance and is applicable to the cement kiln transition zone, and meanwhile, the recycling of the alumina-chrome slag is achieved.