The invention relates to a conductive screening material, in particular to a conductive low-smoke zero-halogen flame retarding and oil resisting cable sheath material and a preparation method thereof. The conductive screening material comprises the following basic components: 100 parts of ethylene-vinyl acetate rubber, 50-100 parts of magnesium hydroxide, 50-80 parts of conductive black, 10-30 parts of graphite powder, 5-10 parts of zinc borate, 10-25 parts of plasticizer, 2-5 parts of lubricant, 1-2 parts of antiager, 10-30 parts of flame retarding synergist, 2-3 parts of vulcanizer and 1-2 parts of vulcanization assistant. The preparation method comprises the four steps of material preparation, mixing, extrusion and tabletting. The conductive low-smoke zero-halogen flame retarding and oil resisting cable sheath material has the advantages of high conductivity, good oil resistivity, excellent flame retarding effect, no peculiar smell, easy stripping and high heat resistance level, and can pass the environment protection authentication of RoHS (Restriction of the use of certain Hazardous Substances Registration), REACH (Evaluation, Authorization and Restriction of Chemicals) and the like.