The invention discloses a graphene and ferrum diselenide composite material and a method for preparing the same. The method for preparing comprises the following steps: selenium-containing inorganic salt and ferrum-containing inorganic salt are put into a stainless steel reactor; hydrazine hydrate and source graphene solution are mixed together and stirred uniformly to form an ink black solution to be added into the reactor, and the reactor is closed so as to carry out reaction; and after the reaction is completed, natural cooling is carried out, reaction precipitate is subjected to repeated washing and suction filtering through distilled water and absolute ethyl alcohol, and after the drying, the product is collected and stored in a drying device. According to the prepared graphene and ferrum diselenide composite material, a graphene sheet wraps ferrum diselenide nanoparticles, the ferrum diselenide is tightly combined with the graphene sheet, so that high specific surface area and excellent magnetic performance are obtained. The method adopts a simple hydrothermal method, the graphene reduction oxide and the composite preparation of the praphene and the ferrum diselenide can be synchronously carried out, and the method has the advantages of simplicity in technology, low reaction temperature, low cost, green, controllability and applicability for industrial production.