The invention provides a foaming-free fast-curing high-strength leak-stopping waterproof polyurethane grouting material. The material is composed of a component A and a component B, wherein the component A comprises isocyanate monomer, isocyanate prepolymer and highly-hydrophobic environment-friendly plasticizer, the component B comprises high-activity polyether polyol, chain-extending cross-linking agent, highly-hydrophobic environment-friendly plasticizer and antioxidant, and a volume ratio of the component A to the component B is 1: 1. The leak-stopping waterproof polyurethane grouting material has low viscosity, is convenient to grout, has the characteristics of no foaming and fast curing and the advantages of good leak-stopping effect, high mechanical strength and wet bonding strength and excellent aging resistance, and is applicable to rapid leak stopping, water prevention and reinforcement of distress in concrete of an underground construction.