The invention discloses a coal-mine gas drainage hole drilling / sealing material and a preparation method thereof. The composition is composed of a component A and a component B in a mass ratio of (0.7-1.5):1, wherein the component A comprises 60-90 parts of polyether glycol A, 10-40 parts of polyether glycol B, 3-12 parts of polyether glycol C, 0.01-3 parts of catalyst, 0.5-5 parts of foaming agent, 0.1-3 parts of foam stabilizer, 1-3 parts of antistatic agent and 10-25 parts of flame retardant; and the component B is composed of 100-180 parts of polyisocyanate. The method comprises the following steps: uniformly stirring the polyether glycol A, polyether glycol B and polyether glycol C, adding the catalyst, foaming agent, foam stabilizer, antistatic agent and flame retardant into a mixing kettle, and uniformly stirring; weighing polyisocyanic acid, and barreling; and evenly mixing the component and component B according to the mass ratio, injecting the mixture into a coal bed hole with an injection pump, and curing. The material disclosed by the invention has the characteristics of high permeability, favorable flowability, adjustable foaming time, moderate expanded ratio, low cost and the like, and is convenient for construction.