This invention discloses a geopolymer-modified grouting material and its preparation method. The invention utilizes a composite activator and modifier to disrupt, depolymerize, and repolymerize the structure of coalgangue, fully activating it and giving it strong cementitious properties. This results in a geopolymer-modified grouting material with a three-dimensional network structure. The mass ratio of coalganguepowder: desulfurized gypsumpowder: microsilica powder: composite activator: modifier = 100:8:5:5:3. The test data of the prepared geopolymer-modified grouting material for water control and foundation grouting are as follows: The grout was prepared with a water-cement ratio of 1:1, and its properties were measured as follows: fluidity 260 mm; stone formation rate 99.8%; initial setting time 990 min, final setting time 2112 min; 3-day plastic strength 1211.6 kPa; 7-day compressive strength 8.82 MPa; free expansion rate 0.3%.