The invention discloses a construction regenerated binding material prepared from construction garbage, prepared by the following steps: putting the construction garbage in a reclamation machine to rub, impact, activate, and modify, using a micro powder extraction device to obtain regenerated micro powder, adjusting the proportion. The invention also discloses a preparation method of the material, comprising the following steps: pretreating construction garbage, reserving waste concrete, waste bricks, waste lime-sand mortar, and waste slag as raw materials; crushing and sieving raw materials to obtain particles; putting the particles in the reclamation machine for processing, removing inert membranes on sand grains, and activating the surface activity of particles; extracting micro powder by a dust collector, sieving the micro powder, and taking undersized parts to obtain regenerated micro powder; continuously crushing the unextracted particles, and extracting the regenerated micro powder when crushing; examining, and adjusting the components to obtain the construction regenerated binding material, wherein, the particles in the reclamation machine are regenerated sand. The construction regenerated binding material is used for replacing 50-70 % of ordinary portland cement to be as masonry cement.