The invention relates to a wear-resistant halogen-free flame-retardant elastic material for a high-speed elevator flat cable and a preparation method thereof. The wear-resistant halogen-free flame-retardant elastic material disclosed by the invention contains the following raw material ingredients in parts by weight: 40-60 parts of EPDM (Ethylene-Propylene-Diene Monomer), 10-20 parts of compatibilizer, 10-35 parts of functional elastomer, 5-25 parts of melt softener, 60-100 parts of flame retardant, 2-5 parts of flame-retardant and wear-resistant synergist, 0.5-2 parts of antioxidant and 0.5-3.5 parts of lubricant. According to the wear-resistant halogen-free flame-retardant elastic material disclosed by the invention, the functional elastomer is a mixture of TPU (Thermoplastic Polyurethane) and SEBS (Styrene-Ethylene-Butadiene-Styrene block copolymer), the physical and mechanical properties, heat resistance and wear resistance of the product can be improved due to the mixture, and the final performance of the product fully meets the requirements of materials for the high-speed elevator flat cable, so that the product can replace the existing PVC (Polyvinyl Chloride) flat cable elastic materials and is halogen-free and environmental-friendly. The preparation method disclosed by the invention is simple in process, easy in operation and low in cost.