The invention relates to a high-temperature abrasion resistant composite material and a preparation method thereof. The high-temperature abrasion resistant composite material is prepared from raw materials of the following components, by mass, of 1.0%-3.0% of short carbon fibers, 0.5%-1.0% of fine ceramic particles, 1.5%-10.0% of coarse ceramic particles, 6.0%-15.0% of graphite powder and the balance copper powder. The preparation method of the high-temperature abrasion resistant composite material comprises the steps that firstly, composite pre-alloyed powder I and spherical composite pre-alloyed powder II are prepared through the high-energy ball-milling technology with appropriate ball-milling parameters and the annealing technology respectively; then, the coarse ceramic particles, thegraphite powder, the copper powder, the composite pre-alloyed powder I and the spherical composite pre-alloyed powder II are proportioned according to the designed components and mixed uniformly, andthus mixed powder is obtained; and a high-performance finished product can be obtained after pressing and sintering. The designed and prepared copper-based composite material is excellent in mechanical performance, high-temperature resistant performance and abrasion resistant performance and high in conductivity, and the preparation technology is simple.