The invention provides a reflective material for protecting electric power facilities and a preparation method of the reflective material. The reflective material comprises poly ethylene succinate, trimethylolpropane, 1, 6-hexamethylene diisocyanate, silicon carbide powder, ethyl orthosilicate, lecithin, polystyrene, polyamide resin, ethylene propylene diene monomer, glyoxal, nanometer titania, compatilizers, terpilenol, antioxidants, cellulose and coco fatty acid diethanol amide. The preparation method includes the steps: firstly preparing elastomer by the poly ethylene succinate, the trimethylolpropane, the 1, 6-hexamethylene diisocyanate, the silicon carbide powder and the ethyl orthosilicate, and then mixing the elastomer with the lecithin to obtain yellow-resistant powder; finally, mixing remaining components with the yellow-resistant powder, adding mixture into a double-screw extruder for extrusion, and pelleting and cooling the mixture to obtain the reflective material. The reflective material for protecting the electric power facilities has excellent mechanical property and heat resistance, is not easy to yellow and good in reflective effect, and can still keep good reflective effect after long-time use.