The invention discloses a cellulose diacetate composite material with a semi-interpenetrating network structure and a preparation method thereof.The preparation method is characterized in that after cellulose diacetate and epoxy resin are mixed, epoxy resin dispersed in the mixture is cured, and the semi-interpenetrating network structure is formed; the composite material is prepared from, by mass, 100 parts of cellulose diacetate, 5-50 parts of epoxy resin, 5-20 parts of camphor, 100 parts of acetone and 2-20 parts of a curing agent.The tensile strength and breaking elongation of the cellulose diacetate composite material are remarkably improved.Use of plasticizer is avoided, harm of the plasticizer to human bodies and the environment is greatly reduced, high temperature during melting is also avoided, and energy consumption is reduced.The preparation method is simple, industrialization is easy, and the preparation method can be widely used in glass frames, toys for children, table tennis balls, thin films, 3D printing consumables, automobiles, household appliance consumables and other plastic products for daily use.