The invention provides an oil-resistant and high-temperature-resistant mining cable sheath material and a method for preparing the same. The oil-resistant and high-temperature-resistant mining cable sheath material comprises, by weight, 30-40 parts of chloroprene rubber, 25-35 parts of fluorine-silicon rubber, 20-30 parts of chlorosulfonated polyethylene rubber, 10-15 parts of fluoroether rubber, 6-8 parts of carbon nanometer fibers, 35-45 parts of carbon black, 10-15 parts of plasticizers TOTM, 8-12 parts of compound stabilizers, 2-4 parts of anti-aging agents 4010NA, 0.5-1.5 parts of anti-aging agents ODA, 0.8-1.2 parts of dicumyl peroxide, 6-10 parts of talc powder, 10-15 parts of compound flame retardants, 1-3 parts of accelerators TMTD, 10-20 parts of diatomaceous earth and 20-25 parts of modified kaolin. The oil-resistant and high-temperature-resistant mining cable sheath material and the method have the advantages that the chloroprene rubber, the chlorosulfonated polyethylene rubber, the fluorine-silicon rubber and the fluoroether rubber are compounded with one another, accordingly, the processing property and the mechanical property of the oil-resistant and high-temperature-resistant mining cable sheath material can be improved while the original properties of raw materials for the oil-resistant and high-temperature-resistant mining cable sheath material in a formula are guaranteed, the oil-resistant and high-temperature-resistant mining cable sheath material is excellent in physical and mechanical property, good in oil resistance, high-temperature resistance, abrasion resistance and insulating and flame-retardant property and long in service time, and the aging speeds can be obviously lowered.