The invention discloses a low-cost polyolefine foaming material. A preparation method comprises the following steps: mixing polyolefin resin, a foaming agent masterbatch, a cross-linking agent masterbatch, a wood flour masterbatch, a processing auxiliary agent, a color masterbatch and a coupling agent masterbatch in proportion, and then extruding a sheet material through a single screw extruder; calendering, pulling and cooling the extruded sheet material, placing into a foaming furnace for foaming; and pulling, cooling and winding a foamed material to prepare the low-cost polyolefine foaming material. According to the invention, the low-cost wood flour is added to a formula as one of main components, so that the processing cost of the polyolefine foaming material is reduced; on the one hand, the increasing tension of petroleum resources is relieved; and on the other hand, waste biomaterials, namely wood dust, straws and the like, are reasonably utilized, so that the resource waste is reduced, and the environmental pollution brought by incineration treatment is prevented.