The invention provides a graphene / silicon carbide reinforced copper-based composite material and a preparation method thereof, and relates to the technical field of copper-based composite materials. The graphene / silicon carbide reinforced copper-based composite material contains the following components of, in percentage by weight, 0.3wt%-0.8wt% of graphene, 0. 2wt%-0.6wt% of SiC, 0. 02wt%-0.2wt%of Ni, and the balance copper; the preparation method comprises the following steps that (1) mixing is carried out; (2) ultrasonic dispersion on graphene is carried out, mixed powder and stearic acidare added, ultrasonic dispersion is carried out, and then mixing and stirring are carried out; (3) ball milling is carried out; (4) drying is carried out; the stearic acid is removed; (5) pre-pressingforming is carried out, and a pressed shape is loaded into a graphite mold; and (6) vacuum hot pressing is carried out, wherein the hot pressing temperature is 840-860 DEG C, the hot pressing pressure is 40-50 MPa, the hot pressing time is 100-130 min; and (7) hot rolling is carried out; the temperature is heated to 360-400 DEG C, heat preservation is carried out, then the temperature is reducedto 160-180 DEG C, and then air cooling is carried out. According to the preparation method, the raw material selection and the raw material proportion are reasonable, and an optimized preparation process is combined, so that the prepared composite material has the advantages of being good in conductive performance, high in strength, high in hardness, good in toughness and excellent in wear resistance.