The invention discloses a bending resistant sheath material for wires and cables, and a preparation method thereof. The bending resistant sheath material is prepared by using the following raw materials, by weight, 60-80 parts of natural rubber, 20-40 parts of butadiene rubber, 10-20 parts of smoke sheet rubber, 5-15 parts of polybutylene telephthalate, 20-30 parts of carbon black N774, 1-2 parts of stearic acid, 2-3 parts of zinc oxide, 3-4 parts of sulfur, 1-2 parts of an accelerant CZ, 2-3 parts of an accelerant TMTD, 10-15 parts of a t-butyl phenolic resin, 4-7 parts of microcrystalline paraffin, 1-2 parts of an antioxidant 4020, 1-2 parts of an antioxidant RD, 2-3 parts of N-cyclohexylsulfophthalimide, 3-5 parts of aromatic oil, and 1-3 parts of di-n-butyl tin dichloride. The sheath material has the characteristics of high elasticity, high strength and excellent bending strength, prolongs the service life of a sheath under same conditions, has excellent heat, wear, ageing, ultraviolet, oil, acid and alkali resistances, and has the advantages of durability, complete reliability and wide application prospect.