The invention relates to a highly efficient soft magnetic material and the preparing method thereof. The soft magnetic material is composed of metal soft magnetic material and soft magnetic ferrite, the metal soft magnetic material is composed of at least one selected from Fe-Ni-Me system (Me is one or more than two selected form Cu, Cr, Nb, V, W, Si, Pd, Zn, Al, Ti and Mn), Fe-Co system, Fe-Co-V system, Fe-Al system and Fe-Al-Me system (Me is one or more than two selected form Co, Cr and Mo), the soft magnetic ferrite is composed of at least one selected form Mn-Zn system, Ni-Zn system, Li-Zn system, Cu-Zn system and Mg-Zn system soft magnetic ferrites. The preparing method of the soft magnetic material comprises the steps of: cold pressing, and sintering, hot pressing or spark plasma sintering. The soft magnetic material does not have the drawbacks of low resistivity of the metal soft magnetic and low magnetic strength of the ferrite, as well as keeps the superior properties of the metal soft magnetic and low magnetic strength of the ferrite.