The invention discloses a carbon nanotube-reinforced cyano carbon nanotube composite polyarylene ether nitrile composite material which is prepared from the following raw materials in parts by weight: 1.7-2 parts of 4-nitrophthalonitrile, 18-20 parts of multiwalled carbon nanotubes, 0.6-1 part of p-aminophenol, 58-70 parts of thionyl chloride, 100-130 parts of arylene ether nitrile, 0.1-0.3 part of ethylenebistearamide, 1-2 parts of triglycidyl Isocyanurate, 0.1-0.4 part of diphenyl imidazoline, 0.8-1 part of dodecyl propyl trimethoxysilane, 1-2 parts of zinc pyrithione, 4-6 parts of bone black, 2-3 parts of ammonium polyphosphate, 1-3 parts of alkenyl succinic anhydride, dimethylformamide, sulfuric acid, nitric acid and a proper amount of acetone. By virtue of the added carbon nanotubes, the hardness and the anti-impact strength of a finished product material can be effectively improved. The composite material is good in oxidation resistance, high in ageing resistance, good in storage stability and excellent in overall performance.