The invention provides a graphene flame-retardant elastic composite. The composite is characterized by being prepared from, by mass, 0.5-10% of graphene microchips, 20-35% of fire retardant, 10-30% ofthermoplastic elastomer, 30-60% of solvent and 0.1-1.5% of auxiliaries. In addition, the invention further provides a composite film containing the graphene flame-retardant elastic composite and a preparing method of the composite film. The composite obtained with the thermoplastic elastomer, the fire retardant and the solvent with different elasticity moduli as the film forming materials and thegraphene microchips as the conductive filler has the advantages of flame retardance, high conductivity, bendability, high adhesiveness and the like, and therefore the composite film prepared from thecomposite also has the advantages of flame retardance, high conductivity, bendability, high adhesiveness and the like, and the composite film can be applied in the fields of electromagnetic shielding, far infrared electric heating products, flexible conductive electrodes and the like, is wide in application range, and effectively overcome the problems that an existing electric heating film product is poor in bending resistance and potential safety hazards such as spontaneous combustion are caused by local overheating.