The invention discloses an aliphatic polyester / calcium carbonate composite material. The composite material is obtained through in-situ ring-opening polymerization of 0.3-10 parts of calcium carbonate and 100 parts of a lactone monomer, wherein calcium carbonate is / is not subjected to surface modification treatment, and the morphology of the calcium carbonate has a dandelion shape formed through the self-assembling of sheet-shaped, spherical, silkworm cocoon-shaped, rhombohedral, rod-shaped, hollow bamboo shoot-shaped, dead tree trunk-shaped, bunchy, cactus-shaped, petal-shaped, cockscomb-shaped or nanometer rods, or has a hemispheric shape self-assembled through nanometer rods. The invention also discloses a preparation method of the composite material. Calcium carbonate utilized in the invention has abundant morphologies, and has a large contact area with a matrix, so the organic and inorganic endophilicity in the composite material is increased, and simultaneously calcium carbonate can be uniformly dispersed in the matrix, thereby the toughness of the aliphatic polyester matrix is well enhanced, and the composite mateiral can be well applied in the biomedical fields of bone restoration, bone fixation and the like.