The invention discloses a special modified recycled polyethylene material for cables and a preparation method of the special modified recycled polyethylene material, so that the problem of high production cost due to the fact that existing special modified polyethylene materials for cables are prepared from new polyethylene and the problem of raw material and cost pressure of existing polyethylene are solved. The special modified recycled polyethylene material for the cables mainly comprises, by weight, 7%-69% of polyethylene, 10%-70% of recycled polyethylene, 5%-20% of toughening agents, 5%-40% of talcum powder, 5%-40% of calcium carbonate, 1%-5% of impact modifiers, 0.1%-2% of dicumyl peroxide, 0.4%-2% of antioxidants 1010, 0.5%-3% of silane coupling agents, 0.5%-3% of polyethylene wax, 0.5%-3% of calcium stearate and 0.4%-4% of pigment. Waste polyethylene can be recycled and reused effectively, and the special modified recycled polyethylene material for the cables and the preparation method have the advantages of resource saving, environmental protection, cost reduction and the like.