The invention provides a preparation method of a phenolic resin composite material for a storage tank. The method comprises the steps that 1, microcrystalline cellulose is dissolved in ionic liquid, the mixture is placed in water bath to be stirred, a cellulose solution is obtained, butyric anhydride is added into the cellulose solution to conduct the reaction, acetic anhydride is added to conduct the reaction continuously, extracting, sedimentation, washing and drying are conducted, and cellulose acetate butyrate is obtained; 2, a coupling agent is dissolved in ethanol, nano-silica is added into an ethanol solution with the coupling agent and taken out for drying, and modified nano-silica is obtained; 3, phenolic resin is dissolved in dimethyl sulfoxide, curing agents, curing catalysts, release agents, toughening agents, glass fibers, the cellulose acetate butyrate and the modified nano-silica are added into the dimethyl sulfoxide with the phenolic resin, ultrasonic agitation and vacuum defoamation are conducted, and a mixture is obtained; 4, the mixture is poured into a mold, after solidification is completed, the mixture is naturally cooled to a room temperature, and the composite material is obtained by taking the material out of the mold. According to the preparation method of the phenolic resin composite material for the storage tank, the composite material is better in low temperature resistance and better in basic performance at low temperatures.