The invention discloses a concrete hollow building block with junked tire rubber granules and a preparation method thereof. The concrete hollow building block is prepared from the following raw materials in parts by weight: 302-375 parts of cement, 565.7-607.2 parts of medium river sand, 1180-1300 parts of gravel and/or rubble, 21.8-59.3 parts of rubber granule, 2.385 parts of water reducing agent and 106-134 parts of water. The preparation method comprises the following steps: immersing the rubber granules in a 20% KOH solution for 20 minutes, cleaning with clear water, and airing to the saturated-surface dry condition; adding the medium river sand, cement, water reducing agent and rubber granules into a stirrer, and stirring; and adding the gravel and/or rubble, adding water, stirring to obtain mixed concrete grout, forming the mixed concrete grout in a forming machine, curing, stripping, and naturally curing. The granularity of the rubber granules is 0.1-5mm, and the size distribution is reasonable. The hollow building block prepared by the method has favorable thermal insulation property, heat insulation property, sound insulation property, light weight and other comprehensive properties, and is suitable to be used as a building load-bearing building block for different load-bearing strength demands.