The invention relates to a MgO-CePO4 material and a preparation method thereof. The technical solution is that the method comprises the following steps: firstly mixing 50-70 wt% of sintered magnesite,20-40 wt% of magnesium hydroxide, 5-10 wt% of cerous phosphate and 1-10 wt% of aluminate, performing uniform stirring, and performing compression moulding; and performing natural drying for 20-24 h,performing drying at 110-200 DEG C for 8-24 h, performing firing at 1300-1600 DEG C, performing heat preservation for 3-6 h, and performing cooling to obtain the MgO-CePO4 material. According to the method provided by the invention, the MgO-CePO4 material prepared by the method has thermal-insulating properties, mechanical properties and erosion resistance, has the characteristics of good thermalresistance performance, a moderate bulk density, moderate strength, low thermal conductivity and strong anti-erosion ability, and can meet the requirements of saving energy and reducing consumption ofindustrial equipment.