The invention discloses a basalt fiber reinforced wood-plastic composite material and a preparation method thereof, and relates to a wood-plastic composite material and the preparation method thereof. The problem of bad comprehensive mechanical property of the current wood-plastic composite material is solved. The material is prepared from thermoplastic plastic, a wood fiber material, modified basalt fibers, a bulking agent and a lubricant. The preparation method comprises the following steps: 1. pre-treating the wood fiber material; 2. sequentially putting the raw materials in a high-speed mixer to be stirred, discharging the materials into a low-speed cold mixer to be stirred, and cooling the materials to obtain premix; and 3. carrying out extrusion forming on the premix. Beside keeping the advantages of good weather fastness, thermal insulation, water resistance, corrosion resistance, and the like, the basalt fiber reinforced wood-plastic composite material provided by the invention has the advantages that the mechanical property is greatly improved compared with common wood-plastic composite materials, and the problems of low mechanical strength and large brittleness of traditional wood-plastic composite material products are well solved. Leftover materials generated in the production process of the basalt fiber reinforced wood-plastic composite material provided by the invention can be entirely recycled, few additives are added, and the basalt fiber reinforced wood-plastic composite material is environment-friendly, thereby being a typical environment-friendly material.