The invention relates to a three-layer coextruded PVC (polyvinylchloride) wood-plastic composite foam board and a preparation method of the three-layer coextruded PVC wood-plastic composite foam board. The wood-plastic composite foam board is of an ABA structure; an outer layer, namely an A layer, adopts polyvinyl chloride, a filler, an impact modifier, a lubricating agent, a composite stabilizer, a coupling agent, a processing agent and a polyvinyl chloride recycled material as raw materials, and an inner layer, namely a B layer, adopts the polyvinyl chloride, wood fiber powder, the filler, a foaming agent, an enhancer, a foaming regulator, the impact modifier, the lubricating agent, the composite stabilizer and a plate recycled material as raw materials. The three-layer coextruded wood-plastic composite foam board is formed by a main machine and an auxiliary machine in a coextrusion molding manner after mixing at high temperature and cooling. The three-layer coextruded PVC wood-plastic composite foam board has the processing property similar with that of wood, is anti-flaming and does not release formaldehyde, so that the three-layer coextruded PVC wood-plastic composite foam board becomes an ideal material for replacing the wood, can be used as building templates, cabinet boards and the like.