The invention discloses a high-resilience chemical crosslinked polyethylene foam material and a preparation method thereof. The material mainly comprises the following components by weight: 50-100 parts of polyethylene resin, 0.1-50 parts of elastomer, 5-50 parts of foaming agent, 0.1-5 parts of cross-linking agent, 0.1-10 parts of foaming assistant, and 0.1-5 parts of cross-linking assistant; the components are internally mixed, pelletized, mixed, extruded, and formed into non-cross-linking extruded master slices, and then the master slices are cross-linked and foamed by heating. According to the invention, the elastomer is mixed into PE (poly ethylene) resin to form the foam material, so the resilience of the product is high; meanwhile, the product further has high elongation at break and tensile strength, excellent toughness, and stable chemical and physical properties, so that the product can be widely used in the fields of packaging, sports and protection, transportation and the like.