The invention discloses a transparent halogen-free low smoke antiflaming polycarbonate composite material and a preparation method thereof. The polycarbonate composite material comprises the following components in parts by weight: 900-980 parts of polycarbonate resin, 5-50 parts of polysiloxane fire retardant, 1-10 parts of sulfonate fire retardant, and 5-50 parts of additive. The preparation method comprises the following steps of mixing the polycarbonate resin, polysiloxane fire retardant, sulfonate fire retardant and additive in a highly mixing machine, then pelletizing through twin screw extrusion, drying and injection molding so as to obtain the transparent halogen-free low smoke antiflaming polycarbonate composite material. On one hand, the hazard that bromine antiflaming polycarbonate material generates carcinogen such as 4-bromo-dibenzdioxan and 4-bromo-dibenzofuran is avoided; on the other hand, the transparent halogen-free low smoke antiflaming polycarbonate composite material has excellent antiflaming performance, reaches the US standard of UL94V-0, also has high grade of transparency and excellent mechanical property, thermal property, low temperature performance and low smoke performance, and remarkably improves the processibility of the material.