The invention belongs to the technical field of organic high-molecular compounds, and particularly relates to a light-weight shock-absorption rubber plastic foamed material and a preparation method thereof. The preparation method comprises the following steps: carrying out banburying, open mixing and granulation on EVA (ethylene-vinyl acetate), butyl rubber, ethylene-octylene copolymer, a solubilizer, a foaming agent, a crosslinking agent, nano zinc oxide, zinc stearate, stearic acid, an aging accelerator and an inorganic filler to obtain rubber plastic granules, and carrying out one-step injection molding to obtain the light-weight shock-absorption rubber plastic foamed material. The light-weight shock-absorption rubber plastic foamed material has the characteristics of light weight, high shock absorptivity, favorable yellowing resistance, high dimensional stability, excellent tensile strength, excellent tear strength and the like, can be used in automobile vibration absorbers, various shock absorption pieces, shoe sole materials and the like, is especially suitable to be used as a midsole for jogging shoes, can absorb counterforce from the ground, and can well protect the feet from hurt.