The invention relates to an oil, abrasion and corrosion resistant sheathing material for marine work cables. The oil, abrasion and corrosion resistant sheathing material comprises, by weight, 100 parts of modified polyurethane, 10 to 30 parts of mica nanosheets, 10 to 20 parts of kaolin nanosheets, 5 to 15 parts of a methyl methacrylate-acrylate-styrene copolymer, 1 to 3 parts of dicumyl peroxide, 1 to 2 parts of zinc stearate, 1 to 2 parts of glycerol monostearate, 5 to 8 parts of 2-octyl-4-isothiazolin-3-one, and 2 to 5 parts of 4, 5-dichloro-2-octyl-4-isothiazolin-3-one. The oil, abrasion and corrosion resistant sheathing material has excellent functions of oil resistance, good toughness, abrasion resistance, cold resistance, water resistance, aging resistance, acid and alkali resistance, weather resistance, long service life, UV resistance and energy release.