The invention relates to a low temperature early strength channeling control cement slurry, comprising portland cement, water, light strengthening agent, low-temperature early strength agent, channeling control agent, rheological performance adjusting agent and defoaming agent; wherein, the light strengthening agent consists of glass beads, fine cement, fine silicon powder and superfine, high-activity slag; the low-temperature early strengthening agent consists of sodium silicate, calcium sulphate and triethanolamine; the channeling control agent consists of polyvinyl alcohol, gypsum, poly naphthalene sulphonic sodium and borax; the rheological performance adjusting agent consists of sodium polystyrene sulfonate and calcium lignosulfonate; the defoaming agent consists of poly glycol dipropionate ether. The invention has the advantages of fast expanding speed of intensity in low temperature, strong channeling control and leakage resistance performance, low water lost and good rheological performance, and can be used as cementing material in low-temperature air layer, activity water layer and leakiness ground layer.