The invention discloses a polyvinyl chloride mixture for wires and cables and a preparation method thereof. The mixture comprises 30-60 parts of polyvinyl chloride resin, 4-15 parts of nitrile-butadiene rubber, 17-60 parts of plasticizer, 0.5-3 parts of epoxy soybean oil, 5-20 parts of filler, 2-3 parts of stabilizer, 0.2-0.6 part of lubricant and 0.1-1 part of toner. The preparation method comprises the following steps: adding polyvinyl chloride resin, plasticizer, stabilizer, filler, epoxy soybean oil, lubricant and toner together into a high-speed mixer, evenly mixing to a certain temperature, adding nitrile-butadiene rubber into the high-speed mixer to carry out secondary mixing, evenly mixing, mixing in a cold mixer while sending the mixture into a preheated granulator, and extruding and granulating to obtain the required polyvinyl chloride mixture for wires and cables. The polyvinyl chloride mixture disclosed by the invention still has the characteristics of torsion resistance, high elastic resilience, friction resistance, torsional deformation resistance and strong torsional fracture performance at -40 DEG C, and also has the advantages of low cost and simple preparation technique.