The invention provides an injectable mineralized collagen bone repair material and a preparing method. The bone repair material is prepared from mineralized collagen, collagen, calcium phosphate particles and an antiwashout agent. The preparing method for the material comprises the steps of preparing mineralized collagen powder; dissolving the antiwashout agent; swelling the collagen; carrying out blending; carrying out mould filling and freeze drying; carrying out cross-linking; carrying out grinding and screening. The bone material can be mixed with autoblood, marrow, normal saline and the like, has a good shape after being kneaded, is formed into dough, and has good cohesiveness, injectability and an antiwashout property. The material can be transplanted into a bone defect part in an injected or open operation mode, has good biocompatibility, promotes new bone generation, and can be used in the bone defect of a non-bearing part, path nailing, tooth fossa pulling, interbody fusion cage interior filling, autogenous bone fragment bonding and prefabricated and formed bone material gap supplementing materials. The bone material can carry antibiotic drugs and has a slow-release effect.