The invention discloses a completely recoverable barrier PE (polyethylene) membrane material, which comprises three or more than five layers of mutually overlapped membrane layer structures, the base material of each membrane layer is a PE material, and the membrane layer structure at least comprises one HDPE (high-density polyethylene) functional layer taking a high-density polyethylene polymer material as a base material. The preparation method of the membrane material comprises the following steps: feeding, heating and melting, co-extruding, blowing, cooling and shaping, drawing, rolling and the like. In the film blowing cooling shaping stage, all film layers are obtained through one-time film blowing forming, and a film material stretching and extending operation is additionally carried out in the traction process; the number of the extruders is more than five, and the number of the extruders is correspondingly consistent with the number of layers of a membrane material to be prepared; the number of the runners in the die head of the film blowing machine is more than five, and the number of the runners is consistent with the number of layers of a film material to be prepared. The membrane material can be applied to packaging materials or buffer bag materials for various industries. The product provided by the invention has the advantages of environmental protection, good mechanical property, good barrier property, low cost, excellent comprehensive performance and the like.