The invention discloses a waterproof chemical-corrosion-resistant heat tracing cable sheath material and a preparation method thereof, the waterproof chemical-corrosion-resistant heat tracing cable sheath material comprises the following raw materials by weight: 38-56 parts of high density polyethylene, 22-34 parts of polyethylene glycol terephthalate-1, 4-cyclohexanedimethanol ester, 18-26 parts of polypropylene random copolymer, 15-20 parts of wollastonite powder, 10-15 parts of alum powder, 3-7 parts of calcium phosphate tribasic, 4-8 parts of zinc hydroxystannate, 2-3 parts of polymethyl triethoxy silane, 16-22 parts of basalt fiber powder, 1.5-2.5 parts of barium naphthenate, 3-4 parts of calcium rosinate, 10-15 parts of dioctyl terephthalate, 5-10 parts of strontium hydroxide, 3-5 parts of N-hydroxymethyl stearamide, 8-12 parts of tricresyl phosphate, 10-15 parts of calcium borate, 1-2 parts of 4-chloro-N-(stearamide methyl) pyridine, and 2.5-4.5 parts of additives. The cable sheath material has good chemical corrosion resistance, strong waterproofness, also has high mechanical strength, good flexibility, heat aging resistance, excellent mechanical damage resistance and other characteristics, long service life, low cost, no environmental pollution, and wide application prospect.