Belonging to the technical field of rubber, the invention provides a low temperature resistant and oil proof rubber seal material and a preparation method thereof. The rubber seal material includes nitrile butadiene rubber, modified butadiene rubber, zinc oxide, stearic acid, an antioxidant, carbon black, sulfur, an accelerator, and a plasticizer, wherein the sum of nitrile butadiene rubber and modified butadiene rubber is 100 parts. The preparation method of the material consists of: subjecting nitrile butadiene rubber to plastication on an open mill, then adding modified butadiene rubber to conduct mixing, then adding 1 / 2 carbon black, zinc oxide, stearic acid, the antioxidant, 1 / 2 carbon black, the plasticizer and a curing agent in order, carrying out tight milling and sheet extrusion, conducting standing for 24h, and vulcanizing the rubber sheet. While guaranteeing oil proofness and ageing resistance, the rubber seal material provided by the invention also significantly improves the low temperature resistance of the seal material and can be used as the seal material for field equipment in cold regions.