The invention discloses a carbon fiber reinforced nickel-based composite material and a preparation method thereof, and relates to a metal-based composite material. The metal matrix composite materials prepared by the prior art are not suitable for parts such as steam turbines used at high temperatures. The composition and volume percentage of the composite material of the present invention are: carbon fiber: 30-35%, copper: 6-8%, nickel: 57-64%. The process steps are: carbon fiber pretreatment, copper electrodeposition, cleaning, neutralization, nickel electrodeposition, forming electrodeposited nickel, billet cleaning, drying, cutting billets into molds, vacuum hot pressing, and furnace cooling. The Cf / Ni composite material prepared by the three-step electrodeposition method in the present invention can not only meet the use requirements of gas turbine engine blades, but also has the advantages of good high temperature strength, high elastic modulus, low density, high melting point, and creep resistance. .