The invention discloses a novel high performance heat sink material which is formed by a substrate and a wrapping layer. The substrate is prepared by graphite, yttrium oxide, aluminum nitride, silicon carbide, carbon nanotubes, silica, bentonite, vanadium oxide, calcium phosphate, zirconium dioxide sol, light calcium, cellulose, itaconic acid dimethyl ester, a binder, a coupling agent, a compatibilizer, an antioxidant, a stabilizer, a bridging agent, an adjusting agent, a reinforcing agent, a flocculation agent, a flexibilizer, a stabilizer, and a terminator. The wrapping layer is prepared by silicon carbide fibers, a graphene, silica, sodium metasilicate, hydroxymethyl cellulose sodium, an initiator, a cross-linking agent, a softener, an adhesion agent, a catalyst and a fire retardant. The prepared novel high performance heat sink material has good mechanical performance, excellent insulating performance, thermal conductivity and a low coefficient of expansion and can be widely applied to the LED heat conduction-heat radiation novel high performance heat sink material in the semiconductor technology.