The invention relates to a halogen-free flame retardant polyphenylene oxide polyphenyl ether (PPE) cable material composition and a preparation method thereof. The composition comprises the following components in percentage by mass: 20 to 50 percent of polyphenylene oxide polyphenyl ether (PPE), 24 to 30 percent of elastomer, 5 to 20 percent of polyolefin, 20 to 35 percent of flame retardant agent, 0 to 5 percent of compatilizer and 0.1 to 1.0 percent of antioxidant. The halogen-free flame retardant PPE cable material composition prepared by the method has the advantages of high flexibility, high mechanical property, high flame retardance, high resilience and the like, does not comprise halogen, is an environmental-friendly product, and can be widely applied to insulation sheaths of halogen-free ultrathin lead connecting leads, direct current electric wires and plugs, electrical product electric wires, telecommunication facility cables, cable sheaths and the like.