The invention discloses a novel environmentally-friendly cable splice closure sealant and a preparation method thereof, and belongs to the technical field of preparation of sealants. The sealant comprises silicone rubber, a flame retardant, butyl rubber, medium molecular weight polyisobutylene, low molecular weight polyisobutylene and an antioxidant. The preparation method comprises the followingsteps: S1, weighing: weighing the raw materials for later use; S2, kneading: adding and kneading the raw materials; S3, blending: blending the obtained kneaded rubber compound; and S4, extruding: extruding the blended rubber compound, and cooling and cutting the extruded rubber compound to obtain the novel environmentally-friendly sealant. The sealant of the invention has excellent adhesion, flameretardancy, filling property, sealing property, water resistance, high and low temperature resistance, acid resistance, alkali resistance, salt resistance and dielectric property; preparation materials of the sealant do not contain solvents or halogens, so the sealant is environmentally friendly; and the preparation method has the characteristics of simple production process, time saving and energy saving, and is suitable for industrial large-scale production.