The invention provides a modified lithium titanate material and a preparation method thereof. The modified lithium titanate material is characterized in that a molecular formula of the lithium titanate material is LiaMpNqTixO12, wherein M and N in the molecular formula are doped and modified metal ions; a is equal to 4; p is more than 0 and less than 0.1; q is more than 0 and less than 0.1; p+q is more than 0 and less than or equal to 0.1; p+q+x is equal to 5; and the metal elements M and N respectively are one of La, Ce, Pr, Nd, Sm, Gd, Dy, Zr, Mn, Ta, Hf and V. The invention further provides a preparation method of the modified lithium titanate material. Compared with the conventional lithium titanate preparation method, the preparation method provided by the invention has the advantages that the reaction temperature is reduced, and the reaction time is reduced. Furthermore, the preparation process is simple; the preparation period is short; and the preparation method is applicable to industrial mass production. Moreover, the modified lithium titanate prepared by the method has the properties of good charging and discharging properties, good circulation property and high-rate property.