The invention provides a gadolinium thulium vanadate / borate blue light-emitting material. The material is characterized in that the chemical formula is Gd1-y(VO4)x(BO3)1-x:Tmy; and in the formula, x is not less than 0.1 and not more than 0.9 and y is not less than 0.01 and not more than 0.05. In a preparation method of the material, ammonium metavanadate, gadolinium nitrate, thulium nitrate, boric acid and citric acid are selected as raw materials, and the preparation method comprises the following steps: (1) putting ammonium metavanadate and boric acid into a container, adding deionized water to form a solution defined as solution A, putting gadolinium nitrate, thulium nitrate and citric acid into the container, adding deionized water to form a solution defined as solution B, adding the solution A to the solution B, stirring the solution uniformly, thus forming sol, adjusting the pH value of the sol to be not less than 4 and not more than 10, continuing stirring at 60-80 DEG C until gel is formed and then drying the gel, thus obtaining a precursor; (2) grinding and dispersing the precursor, then roasting the product at normal pressure and 700-900 DEG C for 1-4 hours, then taking out the product and air-cooling the product; and (3) grinding and dispersing the roasted product, then washing the product and drying the washed powder.