The invention provides a low-smoke, halogen-free, high-flame-retardance, oil-resistant and cold-resistant cable material and a preparation method thereof. The low-smoke, halogen-free, high-flame-retardance, oil-resistant and cold-resistant cable material comprises the following components in parts by weight: 100 parts of basic material, 80-100 parts of flame retardant A, 10-20 parts of flame retardant B, 0.8-2 parts of antioxidant, 0.4-2 parts of lubricant, 0.8-3 parts of coupling agent, 25-40 parts of reinforcing agent and 0.4-0.6 parts of vulcanizing agent, wherein the basic material is a combination of ethylene-vinyl acetate (EVA) and methyl vinyl silicone rubber; the flame retardant A is a combination of magnesium hydroxide and antimony trioxide; the flame retardant B is a combination of zinc oxide and molybdenum trioxide; the antioxidant is a combination of pentaerythritol tetrakis(3-(3,5-di-tert-butyl-4-hydroxyphenyl)propionate), (antioxidant 1010) and tri(2,4-di-tert-butylphenyl) phosphite (antioxidant 168); and the reinforcing agent is fumed silica. The low-smoke, halogen-free, high-flame-retardance, oil-resistant and cold-resistant cable material has the following characteristics of high abrasion resistance, high flame retardance, good oil resistance and chemical corrosion resistance, low temperature resistance, aging resistance, and excellent mechanical properties and the like. The invention further provides the preparation method of the low-smoke, halogen-free, high-flame-retardance, oil-resistant and cold-resistant cable material.