The invention discloses a safety and environment-friendly firework composite material and a preparation method thereof. The safety and environment-friendly firework composite material is prepared fromthe following raw materials in parts by weight: modified nitrocellulose, terephthalic acid, perlite powder, modified carbon powder, potassium perchlorate, aluminum hydroxide, antistatic acrylic resin, potassium hydroxide, potassium hydrogen phthalate, a stabilizing agent, single-base powder, strong agent powder and water. The preparation method of the safety and environment-friendly firework composite material comprises the steps of preparation of raw materials, preparation of dispersion liquid, preparation of composite materials, forming and filling of shoot chargepropellant for fireworks. According to the preparation method disclosed by the invention, by taking the modified nitrocellulose, the perlite powder and the modified carbon powder as main raw materials, the smoke occurrence quantity and the amount of air residues are extremely small during combustion and no smoke is produced through visual inspection; in addition, the smoke does not contain sulfide and does not produce sulfide exhaust gas after combustion, so that good environmental protection performance is achieved; meanwhile, the modified nitrocellulose, the perlite powder and the modified carbon powder are combined to realize good moisture-proof performance; the propellanta drug is stable and can be stored and transported for a long time; besides, the safety of production storage and transportation is ensured.