The invention belongs to the technical field of light-weight high-strength nano-material preparation, and relates to a preparation method of a high-strength high-toughness zirconia nano-fiber material. According to the method, an ultrasonic-assisted liquid-phase reaction method is utilized, zirconium oxychloride octahydrate, polyvinylpyrrolidone and the like are adopted as raw materials, and the high-strength high-toughness zirconia nano-fiber material is prepared controllably. The method particularly comprises the steps that 1, an alcohol-water solution is prepared at room temperature, an appropriate amount of polyvinylpyrrolidone and zirconium oxychloride octahydrate are added, stirring is conducted to achieve uniform dispersion; 2, the mixed solution is subjected to ultrasonic treatmentfor 30 min, then constant temperature of 20-60 DEG C is kept, under the continuous stirring conduction, a reaction conducted for 2-6 hours, natural cooling and centrifugal washing are conducted, andfreeze-drying is conducted to obtain powder products; 3, powder products are placed in a muffle furnace, under the air atmosphere, calcining is conducted at 100-700 DEG C for 2 h, and finally a high-strength high-toughness zirconia nano-fiber material is obtained.