The invention discloses a composite foam sound insulation material. The material is composed of the following components in parts by weight: 49 parts of halogenated butyl rubber sulfurization system, 120 parts of sound insulation material master batch, and 40 parts of foaming master batch; wherein the halogenated butyl rubber sulfurization system comprises the following components in parts by weight: 30 parts of halogenated butyl rubber, 12 parts of promoter, 2 parts of promoter, 2 parts of anti-coking agent, 1 part of promoter, and 3 parts of sulfurization agent; the foaming master batch comprises the following components in parts by weight: 20 parts of halogenated butyl rubber and 20 parts of foaming agent; the sound insulation material master batch comprises the following components in parts by weight: 50 parts of halogenated butyl rubber, 50 parts of sound insulation material, and 20 parts of plasticizer. The invention also discloses a preparation method of the composite foam sound insulation material. The composite foam sound insulation material has the advantages of good sound insulation and sound absorbing property, light weight, and excellent heat insulation property, and at the same time has the characteristics of adaptability to various appearances in the actual use, excellent elasticity, fire retardant property, environment-friendliness, and chemical corrosion resistance.