The invention discloses a ceramic-based ternary composite material with weak negative dielectric property and a preparation method. The preparation method comprises the following steps: 1, respectively weighing titanium nitride, multi-walled carbon nanotubes and copper calcium titanate, then mixing, the mass of the multi-walled carbon nanotubes accounts for 6-12% of the total mass of the mixture, and crushing the mixture to obtain slurry; 2, drying the slurry, and grinding the solid to obtain powder; 3, adding polyvinyl alcohol into the powder, granulating the mixture, and carrying out dry pressing molding to obtain a green body; and step 4, sintering the green body to obtain the ceramic-based ternary composite material. Compared with metal materials, pure titanium nitride and the like, the negative dielectric constant of the titanium nitride/multi-walled carbon nanotube/copper calcium titanate ternary composite material prepared by the method is lower than 200 and can approach zero near a specific frequency, and the titanium nitride/multi-walled carbon nanotube/copper calcium titanate ternary composite material particularly has important application value in the aspects of high-power microwave devices, attenuation porcelain and the like in the military field. Besides, the preparation technology provided by the invention is simple and convenient in process, can realize batch production of products, and has a good technical transformation prospect.