The invention provides a sound absorbing and noise reducing material and a transformer vibration isolating and noise reducing device. The sound absorbing and noise reducing material mainly comprises asphalt, organic silicon, micro-pore ceramic and micro-pore glass balls; the asphalt and organic silicon are mixed filler; the mixed filler and the micro-pore ceramic and micro-pore glass balls as sound absorbing raw materials are mixed according to the following weight percentage: 20-90% of asphalt and organic silicon and micro-pore ceramic mixed filer is mixed with 10-80% of micro-pore ceramic and micro-pore glass balls mixed material, to form the sound absorbing and noise reducing material with a certain strength and binding property. The transformer vibration isolating and noise reducing device is arranged on at least one vibration damping base of the lower part of a transformer body by a group of dampers, and is characterized in that the damping base is pre-formed on a ground base, and sound absorbing and noise reducing materials integrated with the ground base are spread on four sides of the damping base. The sound absorbing and noise reducing material and a transformer vibration isolating and noise reducing device have the characteristics of wide source of raw materials, low cost, easy manufacturing, reasonable structure of device, convenient construction and the like.