The invention relates to a method for preparing high heat-resisting polyethylene composite materials. The method takes advantage of the feature that thermosetting resin has sound rigidity and strength under high temperature after curing, and by adding reaction compatibilizing agent to act with thermosetting resin to form a semi-interpenetrating network of polyethylene and thermosetting resin, and thereby preparing novel polyethylene composite materials. The polyethylene, thermosetting resin, curing agent, accelerating agent, reaction compatibilizing agent and antioxidant which are premixed evenly in a high-speed agitator are added into a double screw extruder, and reactively blended at a proper temperature and rotation speed, the produced granules are extruded out, and the desired high heat-resisting polyethylene composite materials are achieved. Compared with the common polyethylene, the heat resistance and the strength of the materials under normal temperature and high temperature are improved remarkably, and the materials can be applied to the fields of civil buildings, auto parts, household electrical appliances as well as wires and cables, and the like.