The invention relates to a composite material containing ZSM-5 zeolite and a preparation method thereof. By taking kaolin, diatomite and modified kaolin as main raw materials, the preparation method comprises the following steps: A) roasting the kaolin at the temperature of 500-1000 DEG C for 0.5-10h to obtain a roasted material, adding water into the roasted material, uniformly stirring to prepare slurry, adding an alkali or acid, then reacting at the temperature of 60-90 DEG C for 30-120min and filtering to obtain the modified kaolin; B) adding water and one or more of a dispersant and a pore expanding agent into the material obtained in the step A), the kaolin and the diatomite, uniformly stirring to prepare slurry, forming by spray drying, and roasting the formed material at the temperature of 700-1000 DEG C for 0.5-6h to obtain the roasted material; C) adding sodium silicate, lye and zeolite into the material obtained in the step B), then putting into a crystallization reaction kettle, adjusting the final pH value of the slurry to 9.5-11.5 with an acid, performing hydrothermal crystallization at the temperature of 120-180 DEG C for 30-120h, filtering to remove mother liquor, washing the filtered material with deionized water, filtering and drying the filtered material to prepare a target product. The method has low preparation cost, the content of the ZSM-5 zeolite in the material is high, and the material has good wear resistance and has rich microporous and macroporous structures.