The invention relates to the field of waste plastic regeneration technologies and pipe preparation methods, in particular to a high-strength flame-retardant drainage pipe and a preparation method thereof. The high-strength flame-retardant drainage pipe is prepared from the following raw materials in parts by weight: 60 to 90 parts of regenerated polyethylene material, 5 to 20 parts of a filler, 1to 10 parts of metal powder, 1 to 10 parts of a flame retardant and 1 to 5 parts of other auxiliary agents. According to the high-strength flame-retardant drainage pipe, the polyethylene material regenerated from a waste plastic barrel is used as a base material, so the treatment strength of the waste plastic barrel is greatly improved, environmental pollution is reduced, resource utilization is realized, and production cost is reduced; meanwhile, a certain amount of other components such as the filler, the flame retardant, the metal powder and other auxiliaries are compounded, and the components are reasonably compounded to generate a synergistic interaction effect, so the drainage pipe has the characteristics of high strength and excellent flame retardant property.