The invention provides a zirconia composite tough material with adjustable toughness and low price. The tough ceramic is prepared by complex powder of high-purity zirconia doped with at least one of hafnium oxide, yttrium oxide, cerium oxide, calcium oxide, magnesium oxide, aluminum oxide, titanium oxide, silicon oxide, cobalt oxide, iron oxide, scandium oxide, vanadium oxide, manganese oxide, nickel oxide, copper oxide, zinc oxide, niobium oxide, molybdenum oxide, indium oxide, stannic oxide, barium oxide, tantalum oxide, tungsten oxide, lanthanum oxide, praseodymium oxide, neodymium oxide, tellurium oxide, terbium oxide, europium oxide and erbium oxide. The preparation method comprises the following steps: dispersing the zirconia composite powder by using a high energy ball milling method, and adding the dispersed powder into a graphite mold for performing hot pressed sintering treatment, thereby obtaining the high-purity zirconia composite ceramic.