The invention discloses a lithium borohydride / alkali metal aluminum hydride / calcium carbide composite hydrogen storage material and a preparation method thereof and belongs to the technical field of hydrogen storage materials. The composite hydrogen storage material is prepared from lithium borohydride, alkali metal aluminum hydride and calcium carbide, wherein the mole ratio of lithium borohydride to alkali metal aluminum hydride is 2:1, the additive amount of calcium carbide is 12-25mol%, and alkali metal aluminum hydride is lithium aluminum hydride or sodium aluminum hydride. During preparation, calcium carbide with the purity not lower than 97% is ground into powder with the granularity smaller than 500 mu m, lithium borohydride, alkali metal aluminum hydride and the calcium carbide powder are weighed in proportion and mixed, and finally, the mixed powder is subjected to ball-milling treatment through a planetary ball mill. The composite hydrogen storage material has the advantages as follows: a preparation process of the composite hydrogen storage material is simple, safe and reliable, the composite hydrogen storage material has low hydrogen desorption temperature, high hydrogen desorption and good reversible hydrogen reabsorption performance, the hydrogen storage performance of the material is improved through calcium carbide, raw materials are widely sourced, and the cost is low.