The invention discloses a bismaleimide resin/silicone rubber ablation-resistant thermal insulation composite material and a preparation method thereof. The composite material is prepared from the following components in parts by mass: 20-80 parts of methylvinylsilicone rubber, 20-80 parts of methyl vinyl phenyl polysiloxane rubber, 1-5 parts of dicumyl peroxide, 15-40 parts of white carbon black, 5-15 parts of chopped fibers, 5-40 parts of bismaleimide, 1-5 parts of hydroxyl silicone oil and 1-20 parts of zirconium boride. The bismaleimide resin/silicone rubber ablation-resistant thermal insulation composite material has high vulcanization molding quality, and a dense hard carbon layer can be formed on the surface of an ablation layer of the thermal insulation composite material in the ablation process to play a role of preventing the thermal insulation composite material from further ablation, thereby improving the ablation resistance and antioxygenic property of the thermal insulation composite material, enabling the thermal insulation composite material to meet the requirements of operating environments with oxygen enrichment, high temperature, high-speed gas flow and particle erosion, and solving the problem that the thermal insulation material is easy to flaw and be burnt out under the working environments with high temperature, high pressure, oxygen enrichment and particle erosion.