The invention discloses a nickel-zinc soft magnetic ferrite material and a preparation method thereof. The material comprises the following compositions in mol percentage: 45 to 50 mol percent of ferric oxide Fe2O3, 20 to 26 mol percent of zinc oxide ZnO, 12 to 17 mol percent of nickel protoxide NiO, 5 to 10 mol percent of copper oxide CuO, and 3 to 10 mol percent of magnesium oxide MgO. The preparation method comprises the following steps: treating raw materials, proportioning, primary ball milling, drying, powdering or screening, preburning, secondary proportioning, secondary ball milling, secondary drying and secondary powdering or screening; the preburning condition is to carry out pre-synthesis in an air furnace at a temperature of between 900 and 980 DEG C, and the sintering temperature is between 1,050 and 1,100 DEG C. The nickel-zinc soft magnetic ferrite material has the characteristics of property of high Q, high frequency, high TC, high Bm and low cost.