The invention discloses an antibacterial and mildew-proof shoe material, which is prepared from the following raw materials in parts by mass: 18 to 22 parts of EVA (Ethylene-Vinyl Acetate), 22 to 24 parts of OBC (Oxidized Bed Carbon), 6 to 10 parts of foaming particles, 4 to 6 parts of fiber particles, 3 to 5 parts of filling agents, 0.6 to 0.8 part of antibacterial agents, 0.5 to 0.7 part of bacteriostatic agents and 0.3 to 0.5 part of vulcanizing agents. The bacteriostatic agent adopts plant essential oil, the plant essential oil is at least one of clove essential oil, rosemary essential oil or lavender essential oil, and the plant essential oil is prepared by adopting a steam distillation method. The invention further provides a preparation method of the antibacterial and mildew-proof shoe sole. The preparation method comprises the following steps: S1, banburying; s2, open milling; s3, performing granulation; and S4, mold treatment. The formula is low in cost, the wear resistance, durability, antibacterial and mildew-proof performance and the like of the shoe sole are improved through compound use, bacterial expansion is inhibited, the wearing safety of the shoe sole is improved, the shoe sole has fragrance, peculiar smell is avoided, and the shoe sole is suitable for application and popularization.