A samarium and cobalt sintered permanent magnet material comprises, in weight percent, 25-27%wt of samarium, 49-51%wt of cobalt, 5-6.5%wt of copper, 3-3.5%wt of zirconium and 15-18%wt of iron. A preparation method includes the steps: smelting; casting an ingot; absorbing hydrogen for the cast ingot; making powder; performing orientation forming and sintering. In the smelting process, the thickness of a casting mould cavity is decreased, cooling water is filled into the wall of the mould cavity, cooling of the cast ingot is accelerated, element composition segregation is decreased, the production process is stabilized, a dendrite crystal is restrained by adding a zirconium element, hydrogen absorbing is performed for the cast ingot in the smelting process, production steps are saved, and energy consumption is reduced. In the subsequent milling process, the cast ingot absorbed hydrogen is crystallized into particles, the particles fracture along crystal boundaries in the milling process of airflow, the integrality of crystal particles is ensured, the anisotropy of the crystal particles is improved, magnetic powder particles are obtained, particle size distribution is concentrated with the range of 3.5-4.5 micrometers, the sintering temperature needed by the magnetic powder particle of each point of a blank is the same in the later sintering process, the sizes of the sintered crystal particles are the same and uniform, and the performances, particularly, such as residual magnetism Br, maximum magnetic energy product (BH) max and critical magnetic field Hk of a sintered permanent magnet are improved.