The invention relates to an in-situ composite silicon-based multibasic oxide oxide aerogel material and its preparation method, especially to a multibasic oxide oxide aerogel material which is prepared by the following steps: using soluble glass as a silicon source, mixing metallic oxide corresponding water-soluble metal salt, adding acid or alkali to adjust pH value of the system so as to form multibasic oxide sol; mixing the multibasic oxide sol with a water-soluble organic solvent, filtering to remove produced precipitate so as to obtain salt-free multibasic oxide sol, carrying out a sol-gel method, aging, modifying and drying. By a mature silica aerogel technology, the multibasic oxide oxide aerogel material is prepared by in-situ polymerization of other oxide components which are not easy to separately prepare aerogel. In addition, the multibasic oxide oxide aerogel material has excellent properties, such as high temperature stability, high activity, magnetic property and the like, none of which are present in single-component silica aerogel. The product is widely applied in fields of high temperature insulation, sound insulation, catalysts, catalytic carriers, battery electrodes, electromagnetism, resistance, gas sensitivity, humidity sensitivity, luminescent materials and the like.