The invention discloses a flame-retardant type cable sheath insulation material and a preparation method thereof. The flame-retardant type cable sheath insulation material comprises the following raw materials in parts by weight: 94-102 parts of neoprene CR121, 16-21 parts of chlorinated polyethylene, 16-22 parts of semi-reinforcing carbon black N774, 2-4 parts of magnesium oxide, 1-2 parts of glass powder, 32-36 parts of mica powder, 1-2 parts of anti-aging agents MB, 1-2 parts of 2-thiol-group benzimidazole, 5-7 parts of polyamide wax micropowder, 1-2 parts of accelerants DM, 0.8-1 part of accelerants TMTD, 18-23 parts of kaolin, 1-3 parts of adipic acid propanediol polyester, 2-4 parts of zinc borate, 4-6 parts of talcum powder, 0.8-1 part of zinc oxide, 2-3 parts of modified calcium carbonate, 5-6 parts of antimony trioxide, 4-6 parts of ethylene thiourea, 4-6 parts of ethylene bis stearamide, 0.7-0.9 part of di-n-octyltin bis(isooctyl thioglycollate) and 0.5-0.8 part of bis(P,P-bis-ethylhexyl diphosphato) ethanediolato titanate. The flame-retardant type cable sheath insulation material disclosed by the invention has characteristics superior to those of common rubber and flame-retardant rubber, namely, the flame-retardant type cable sheath insulation material disclosed by the invention has the property of common silicon rubber at normal temperature, and a rigid shell after is formed being ablated by high temperature flames so as to protect the burnt object not to be damaged.