The invention discloses a flame-retardant and mildew-proof heat preservation material for refrigeration equipment, which comprises the following raw materials in parts by weight: 14-18 parts of alkali-free glass fiber, 10-14 parts of hollow glass micropowder, 120-160 parts of polytetrahydrofuran glycol, polytetrahydrofuran glycol 120-160 parts, 30-40 parts of ester polyol, 3-5 parts of foaming agent, 15-25 parts of flame retardant additive, 2-4 parts of foam stabilizer, 1-3 parts of catalyst, 4-6 parts of anti-mold and fungicide, mineral filling 13‑17 parts, 5‑7 parts of coupling agent. The thermal insulation material of the present invention has low thermal conductivity, excellent thermal insulation performance, good mechanical strength, excellent uniformity, air permeability, elastic recovery rate, and in addition, the material has strong flame retardancy and bactericidal and anti-mildew effects At the same time, the raw material components of the present invention are safe and reliable, have no pollution to the environment, have low cost, and are simple in process, and have high practical value and good application prospects when used as insulation materials for refrigeration equipment.