The invention discloses a composite material, a preparation method thereof and a quantum dot light-emitting diode. The preparation method of the composite material comprises the steps that a quantum dot solution is provided, the surfaces of quantum dots are combined with first ligands, and the first ligands are organic ligands containing carboxyl; a ligand solution in which a second ligand is dispersed is provided, the second ligand is polyaniline, and a solvent of the ligand solution and a solvent of the quantum dot solution are mutually soluble; and the quantum dot solution is mixed with the ligand solution, and carrying out ligand exchange reaction on the surfaces of the quantum dots to obtain the composite material. The polyaniline and the quantum dots are combined together, on one hand, the hole transmission capacity of the quantum dot light-emitting layer is improved through the hole transmission capacity of the polyaniline, and injection balance of carriers is improved; and on the other hand, polyaniline serves as a surface ligand of the quantum dots, agglomeration of the quantum dots can be reduced, electron injection can be hindered, injection balance of carriers is further improved, and the device performance is improved.