The invention discloses a modified natural rubber composite material for a cable insulation layer. The material is prepared from the following raw materials in parts by weight: 30 to 40 parts of natural rubber, 40 to 60 parts of methyl methacrylate natural rubber, 50 to 60 parts of ethylene propylene diene monomer, 50 to 55 parts of nanosilicon dioxide, 16 to 20 parts of diatomite, 7 to 12 parts of nylon PA-66, 12 to 16 parts of calcined clay, 33 to 37 parts of white carbon black, 15 to 25 parts of carbon black, 30 to 45 parts of attapulgite, 2 to 3 parts of zinc oxide, 1.8 to 2.5 parts of sulphur, 2 to 4 parts of N-cyclohexyl-2-benzothiazole sulfenamide, 1 to 2 parts of bis(3-triethoxysilicyl propyl)-tetrasulfide, 2.5 to 3 parts of magnesium stearate, 5 to 10 parts of maleic anhydride and 2 to 5 parts of liquid carboxylated nitrile rubber. According to the modified natural rubber composite material for the cable insulation layer, provided by the invention, the cable insulation layer adopts the modified natural rubber composite material, the oxidation and heat resistant properties are good, the ageing-resistant performance is excellent, the mechanical property is good and the service life is long.