The invention discloses a fibrous material with a formaldehyde removal function, and belongs to the technical field of poisonous volatile matter removal. Cation exchange fibers are used as base body materials in the fibrous material, and counting the total mass of the fibrous material by 100%, the fibrous material comprises, by mass, 24.8%-88.95% of the cation exchange fiber, 0.05%-0.2% of surface active agent, and 11%-75% of macromolecule organic amine compound. The preparation method of the fibrous material includes the following steps: (1) preparing steeping liquor according to proportion, (2) adding fibers into the steeping liquor and evenly stirring the fibers, (3) soaking the fibers in the steeping liquor for 2-4 hours under the condition of interval stirring, (4) and fishing out the soaked materials, drying the materials with hot air or natural air. The fibrous material is diversified in application form, has no secondary pollution, and is large in formaldehyde adsorption capacity, high in adsorption speed, simple in preparation process, and low in cost.