The invention discloses a rubber alloy material and a method for manufacturing a driving medium by utilizing the material. The rubber alloy material of the invention comprises the following ingredients by weight portion: 40 portions to 100 portions of nitrile rubber, 3 portions to 8 portions of zinc oxide, 1 portion to 3 portions of sulfur, 1 portion to 3 portions of promoter, 1 portion to 3 portions of antioxidant, 1 portion to 3 portions of fatty acid, 60 portions to 80 portions of semi-reinforcing carbon black and 20 portions to 60 portions of filler. Taking full consideration of the influence of the carrying capacity and the shock resistance of a water lubricating rubber member, the rubber alloy material of the invention has relatively high carrying capacity, shock and wear resistance, strengthens the deformation coordination of the surface and the elasto-hydrodynamic lubrication property, reduces frictional wear and improves the overall properties of the member manufactured by the material so as to lengthen the service life of the member and greatly improve the transmission efficiency of the member.