The invention discloses a halogen-free flame-retardant polyethylene material and a preparation method thereof. The polyethylene material comprises following components by weight: 50-80% of polyethylene, 15-30% of a compound halogen-free flame retardant, 5-10% of a reinforcing agent, 2-5% of a compatibilizer, 0.5-2% of a lubricant, 0.1-1% of a coupling agent, and 0.1-1% of an antioxidant. Beneficial effects of the polyethylene material and the preparation method are that: compared with the prior art, the polyethylene material has good halogen-free flame retardant property (with the oxygen index being 30) and meets the UL94-0 flame retardant level standards; the material is small in fuming amount, nontoxic, free of molten droplets, and the like; the material is good in dispersibility, good in appearance, high in impacting toughness, high in tensile strength, high in heat stability and good in comprehensive performance; and the material can be widely used in the electric appliance industry, the chemical industry, the food industry, the machinery industry, and the like.