The invention discloses a reinforcing ribs contained sandwich structure composite material and its making method. The composite material is composed of an internal core material, reinforcing ribs, and a one-time-formed fiber fabric reinforced resin composite material layer, wherein the internal core material is a lightweight buoyancy material having a compressive strength of above 0.5MPa; each of the reinforcing ribs is formed by a lightweight material internal model connected with the internal core material through an adhesive, and a fiber fabric layer coated on the external surface of the lightweight material internal model; the fiber fabric is a glass fiber, a carbon fiber, a Kevlar fiber, an ultrahigh molecular weight polyethylene fiber or a basalt fiber; and a resin is a cured substance of a polyester resin, a vinyl resin, an epoxy resin, a phenolic resin and the like. The making method has the advantages of one-time-forming of a product having the reinforcing ribs and the sandwich structure, increase of the rigidity design space of the composite material, reduction of sequent secondary processing, reduction of the defect appearance possibility, scarce generation of the volatilization of harmful gases, and personnel health protection.