The invention discloses a waterproof anti-aging polyethylene plastic which is prepared from the following raw materials in parts by weight: 20-50 parts of polycarbonate, 15-35 parts of polyethylene terephthalate, 10-20 parts of polyethylene, 1-3 parts of n-butyl 4,4-bis-(tert-butyl-peroxy)valerate, 0.5-1 part of 4,4'-diamidodicyclohexyl methane, 1-2 parts of potassium dichromate, 2-6 parts of composite carbon, 0.5-1.5 parts of silane coupling agent, 10-18 parts of zinc borate, 2-8 parts of ground calcium carbonate, 1-5 parts of muscovite, 1-6 parts of calcium silicate hydrate, 1-5 parts of meerschaum, 1-4 parts of aluminum tripolyphosphate, 0.5-1.5 parts of molybdenum disulfide, 1-3 parts of trimethyl phosphate, 0.1-0.6 part of rare earth compound, 1-2 parts of ethylene glycol monobutyl ether, 1-2 parts of lubricant, 1-3 parts of antioxidant and 1-3 parts of light stabilizer.