The invention discloses a silane self-crosslinking low-smoke halogen-free flame-retardant polyolefin oil-resistant elastomer material, and a preparation method and application thereof. The elastomer material comprises a material A and a material B. The material A comprises a master batch, linear low-density polyethylene, a silane coupling agent and a first initiator, and the master batch comprises ethylene propylene diene monomer, an inorganic flame retardant, vinyl silicone rubber, a lubricant, a dispersing agent, an antioxidant and a second initiator; and the material B comprises the ethylene propylene diene monomer, linear low-density polyethylene, the inorganic flame retardant, the vinyl silicone rubber, the lubricant, the dispersant, the antioxidant and a catalyst. The preparation method comprises the following steps: mixing and banburying the master batch in the material A, extruding and granulating to prepare master batches, mixing and grafting the prepared master batches and other raw materials, and extruding and granulating to prepare the material A; and mixing and banburying the components in the material B, and extruding and granulating to prepare the material B. The elastomer material disclosed by the invention has the properties of low hardness, high oil resistance, high and low temperature resistance, water resistance, flame retardance, low smoke, zero halogen and the like, can be self-crosslinked by silane, and is suitable for rail transit wires and cables.