The invention provides an anti-termite adhesive tape substrate of a polyethylene pipeline and a preparation method of the substrate. The anti-termite adhesive tape substrate of the polyethylene pipeline is prepared from the following components in percentage by mass: 50-75% of ultralow density polyethylene, 10-20% of maleic anhydride modified linear low-density polyethylene, 5-15% of medium-density polyethylene, 5-15% of high-density polyethylene, 1-2% of an antioxidant, 1-2% of color master batch and 1-2% of an anti-termite agent. The anti-termite adhesive tape substrate of the polyethylene pipeline is greatly enhanced in heat resisting stability, heat aging resistance, environmental stress cracking resistance, stretchability, shock resistance and wear resistance, and also has the function of prevention against termites.