The invention provides a building material and a preparation method thereof, and relates to the field of materials. The building material comprises the following raw materials in parts by weight: 11 parts of asphalt, 15 parts of bauxite, 10 parts of tricalcium silicate, 6 parts of polypropylene resin, 8 parts of quartzite, 7 parts of calcium acetate, 12 parts of abandoned polyethylene foam plastic, 10 parts of abandoned polyurethane foam plastic, 13 parts of vermiculite, 8 parts of coal ash, 14 parts of activated carbon, 13 parts of bamboo carbon, 7 parts of expanded and vitrified microspheres, 15 parts of glass wool, 7 parts of ceramic fiber, 8 parts of polyarmide fiber, 14 parts of a light stabilizer, 0.4 parts of a heat stabilizer, 0.5 parts of a foaming agent, 0.4 parts of a retarder, 0.7 parts of a water reducer and 9 parts of water. The preparation method comprises the following preparation steps: (1) weighting of raw materials; (2) grinding of the raw materials into powder; (3) heating; (4) calcinating; (5) smashing; (6) stirring; (7) pressure forming; (8) drying. According to the building material, the problem of defects of the existing building material when the existing building material is applied to a building with high requirements for fracture resistance and compression resistance strength, heat insulation, environmental protection and energy saving is solved.