The invention discloses a fiber-glass reinforced polyethylene material and a preparation method thereof. The fiber-glass reinforced polyethylene material is formed by extruding and pelleting after mixing 100 parts of polyethylene by weight, 1 to 40 parts of polypropylene by weight, 1 to 40 parts of fiber-glass by weight, 0.5 to 5 parts of glass microballoon by weight, 0.5 to 4 parts of coupling agent by weight, 1 to 10 parts of solubilizing agent by weight, 0.5 to 4 parts of lubricant by weight and 0.5 to 3 parts of antioxidant by weight. The invention chooses the fiber-glass which has high size stability and high corrosion resistance to ensure that the manufacturing cost is greatly decreased and the polyethylene product has better size stability, heat resistance and intensity by inducingthe fiber-glass into polyethylene product. With the techniques of coupling, inter-consistency and pelleting, the invention directly mixes the fiber-glass with the polyethylene, pellets and performs injection molding, to prepare the fiber-glass reinforced polyethylene material which has the advantages of high-modulus, higher heat resistance, etc.