The invention relates to a rubber sheath material, particularly relates to a cold-resistant rubber for an outdoor cable sheath, and belongs to the technical field of rubbers. The cold-resistant rubber comprises a rubber base material, a sulfurization agent, a stabilizing agent, a cold-resistant softening agent, an anti-aging agent, a fire retarding agent, a reinforcement filling agent and a flow dispersing agent, a chlorinated polyethylene and an ethylene-propylene rubber are adopted as main base materials, a vulcanizing agent, the stabilizing agent, the softening agent and the anti-aging agent are elaborately screened so as to be used as components for preparing a cable sheath material, the properties, proof low temperature, proof torsion, oil proof, proof ozone, proof ultraviolet light aging and proof sea water corrosion of a cable are improved, and the cable can carry out normal operation under minus 40 DEG C environment. The cold-resistant rubber provided by the invention has the advantages that the production process is simple, the required equipment is less, the material application range is wide, and an operating worker can operate in a practised manner; and the cold-resistant rubber provided by the invention uses a scientific method of an orthogonal design, the component identity is reasonable through repeatedly testing for many times, the selected material price is moderate, the cost is lower, and the cold-resistant rubber is suitable for a large scale of production.