The invention discloses a high strength and high elasticity copper, nickel and silicon system alloy material and a preparation method thereof. The material comprises, by weight percentage, 0.5%-3.0% of Ni, 0.3%-3.0% of Co, 0.25%-1.5% of Si, 0.01%-0.05% of Mg, 0.002%-0.005% of B, 0.02%-0.05% of mixed rare earth (Sc:Y:La=1:3:5) and the balance Cu, wherein the mass ratio of nickel to cobalt is 0.5-6.0, the material further at least comprises one or two of four elements of Cr, Ti, Ag and Zr and the total content of the alloy elements is 0.02%-0.5%; and by means of smelting and casting, hot rolling, face milling, rough rolling, intermediate annealing, intermediate rolling, high-temperature fast solution treatment, finish rolling and ageing treatment, the material is prepared and obtained. The high strength and high elasticity copper, nickel and silicon system alloy material totally meets the using requirements of high-density lead frame terminals and high-end electronic component precision connecting and inserting terminals of a super large scale integrated circuit for a copper alloy material.