The invention provides an irradiation cross-linking oil resistance type soft low smoke zero halogen flame-retardant cable material which comprises the following components in parts by weight: 60-90 parts of ethylene-vinylacetate copolymer, ethylene-propylene-diene rubber and ethylene-octylene copolymer, 0-20 parts of nitrile rubber, 10-30 parts of interface compatilizer, 80-130 parts of flame retardant, 2-15 parts of flame-retardant synergist, 0.5-1.0 part of antioxidant, 1-2 parts of cross-linking sensitizing agent and 0.5-1.0 part of lubricant. The preparation method of the cable material in the invention mainly comprises the steps of silane surface modification treatment of the flame retardant, mixing and extruding of a double screw mixer-extruder unit or an internal mixer unit, brace water cooling or water ring particle cutting and the like. The cable material provided by the invention has the advantages of superior flame resistance (single cable can vertically burn), good mechanical properties, especially high softness, oil resistance, high-temperature resistance (the cable material can be used in a range of minus 40 DEG C-125 DEG C), low smoke, low toxicity and excellent processability.