The invention discloses a graphene modified silicone rubber cable sheath material. The material is prepared from raw materials as follows: phenyl siloxane rubber, methyl vinyl silicone rubber, fluororubber, polybutadiene rubber, polyurethane, ethylene-acrylate rubber, zinc oxide, stearic acid, 2,4-dichlorobenzoyl peroxide, an assistant crosslinker TAIC, 2,5-dimethyl-2,5-di(tert-butylperoxy)hexane, cerium oxide, fumed silica, carbon black, nano calcium carbonate, stearic acid modified magnesium hydroxide, ammonium polyphosphate, modified graphene oxide, nano silicon carbide, magnesium stearate, triphenyl phosphate, tributyl citrate, an accelerator, an anti-aging agent and silane modified cellulose. The graphene modified silicone rubber cable sheath material is high in strength, excellent in heat resistance and flame retardation, good in aging resistance and long in service life.