The invention relates to a polypropylene composite material and a preparation method thereof. The material is prepared from the raw materials of, by weight, 100 parts of polypropylene, 40-200 parts of a nano-grade heat conductive filling material, 10-50 parts of a grafted polyolefin elastomer compatibilizer, 0.5-5 parts of a coupling agent, 0.5-3 parts of an antioxidant, and 1-5 parts of a lubricant. According to the invention, the heat-conductive filling material is modified by using the coupling agent; the modified heat-conductive filling material is uniformly mixed with the compatibilizer, the antioxidant, and the lubricant according to the ratio; extrusion granulation is carried out, such that a cladding structure is formed; the cladding structure is subjected to mixing with polypropylene in a double-screw extruder, such that the polypropylene composite material is obtained. According to the invention, the nano-grade heat-conductive filling material and the grafted polyolefin elastomer are used for filling and modifying polypropylene resin. With a double-stage extrusion method, the heat-conductive filling material has good dispersion property and interface bonding property, such that heat conductivity and impact property of polypropylene are improved. Especially, low-temperature impact property of polypropylene is also substantially improved. The material and the method can be applied in the fields of floor heating, solar energy, chemical transportation, and the like.