The invention discloses a high-temperature-resistant and flame-retardant cable material and a preparation method thereof. The cable material is prepared by the following raw materials in parts by weight: 50-70 parts of high density polyethylene, 20-40 parts of ethylene propylene diene monomer, 10-15 parts of thermoplastic polyurethane elastomer, 1.5-2.5 parts of tert-butyl peroxybenzoate, 1-2 parts of zinc methacrylate, 0.5-1.5 parts of isopropyl tri(dioctylpyrophosphate) titanate, 5-10 parts of tall oil, 3-4 parts of accelerant TMTD (tetramethyl thiuram disulfide), 1-2 parts of anti-aging agent ZMTI (zinc 2-mercaptotolylimidazole), 5-8 parts of acetyl triethyl citrate, 10-15 parts of magnesium hydroxide, 1-2 parts of ferric oxide, 3-5 parts of zinc oxide, 5-10 parts of red phosphorus, 2-3 parts of dibasic lead phosphite, 15-20 parts of organic bentonite, 12-16 parts of nano silicon dioxide, and 4-8 parts of composite filler. The cable material has excellent high-temperature resistance and aging resistance, is obvious in flame-retardant effect, does not generation dense smoke, corrosive halide gas or other hazardous substances during combustion, and has the characteristics of high mechanical strength, good wear resistance, good elasticity, good flexibility and the like, thereby widening an application scope of a high density polyethylene cable material greatly.