The invention relates to a pavement engineering material, and concretely relates to a semi-rigid asphalt pavement material and a preparation method thereof. The semi-rigid asphalt pavement material comprises, by volume, 75-85% of a macro-porous asphalt mixture and 15-25% of a grouting material; the macro-porous asphalt mixture is obtained through mixing mineral, a filler and rubber high-viscosity modified asphalt; and the grouting material is obtained through mixing fine particle modified emulsified asphalt, PC42.5 composite Portland cement, an active admixture, sands, water, a water reducer, an aluminum powder, an expanding agent, an air entraining agent, an antifoaming agent and limestone mineral powder. The semi-rigid asphalt pavement material has the advantages of good construction workability, strong high-temperature rut resistance and low-temperature cracking resistance, good durability, long fatigue life, good combination property of the macro-porous asphalt mixture with the grouting material, small temperature shrinkage and dry shrinkage cracks, energy saving, environmental protection, and realization of the high cost performance of recycling of solid wastes.