The invention discloses a butyronitrile-PVC (polyvinyl chloride) compound elastomer flame-retardant sheath material for wires and cables and a manufacturing method of the butyronitrile-PVC compound elastomer flame-retardant sheath material. The butyronitrile-PVC (polyvinyl chloride) compound elastomer flame-retardant sheath material is composed of, by weight, 100-120 parts of butyronitrile rubber, 40-45 parts of PVC resin, 1-2 parts of sulfur, 0.1-0.2 part of accelerant TMTD, 1-1.5 parts of accelerant CZ, 2-3 parts of antiager, 15-20 parts of antimonous oxide, 5-7 parts of zinc oxides, 1-2 parts of stearic acid, 12-14 parts of DOP (dioctyl-phthalate), 6-8 parts of DOS (dioctyl sebacate), 15-18 parts of TCP (tertiary calcium phosphate), 0.5-0.8 part of zinc stearate, 1-1.5 parts of barium stearate, 0.1-0.2 part of bisphenol A, 2-2.5 parts of butyl ester, 2.5-3 parts of carbon black master batch, 15-20 parts of modified diopside and 25-30 parts of semi-reinforced carbon black. The flame-retardant sheath material has the advantages of good mechanical and physical performance, good high and low temperature resistance, oil resistance, solvent resistance, wear resistance, ozone resistance, ageing resistance, flame retardancy, low smoke and the like and is long-lasting, durable, environment-friendly and pollution-free.