The invention discloses a pipeline spraying repair material, a preparation method and a construction process for repairing a pipeline with the pipeline spraying repair material. The repair material isprepared from the following raw materials in parts by weight: 40 to 60 parts of binding material, 45 to 70 parts of aggregate, 3 to 9 parts of dispersible latex powder, 3 to 10 parts of fiber material, 2 to 6 parts of water-retaining agent, 1 to 3.5 parts of accelerator, 2 to 6 parts of underwater curing agent, 0.4 to 1.2 parts of water reducer, 2 to 6 parts of stabilizer and 25 to 35 parts of water. The construction process can be implemented in a moist environment or a water containing environment, so that the engineering cost in pipeline repair is lowered greatly. The pipeline spraying repair material can still be used in the presence of water in the pipeline, so that the environment interference is low. The repair operation can be finished in a non-digging repair way in the construction process, so that the maintenance cost is lowered, and other barriers can be avoided. The problem of leakage of underground pipelines can be solved efficiently without causing traffic jam. The repair construction result is satisfactory, the repaired pipeline has the advantages of uniform surface thickness, smoothness, flatness, seepage resistance, high corrosion resistance, and practical runningof the underground pipelines can be satisfied.