The invention discloses a high-specific-strength and high-specific-modulus aluminum alloy material, a preparation method thereof and a component machined by the material. The aluminum alloy is prepared from, by weight, 0.60-1.70% of Mg, 0.85-1.80% of Si, 0.80-2.40% of Li, no more than 0.50% of Mn, no more than 0.50% of Cu, no more than 0.50% of Zn, 0.50% of Fe, no more than 0.50% of Cr, no more than 0.25% of Ti, no more than 0.25% of Zr, no more than 0.05% of each of other elements, and the balance Al, and the total content of the other elements is no more than 0.15%. The preparation method comprises the steps that an alloy ingot is manufactured, the alloy ingot is subjected to homogenizing heat treatment, deformation machining is conducted on the alloy ingot after the homogenizing heat treatment to obtain the alloy material of a required specification, the alloy material is subjected to solution heat treatment and cooled to the room temperature quickly, and the alloy material is subjected to aging heat treatment to obtain good performance matching. The high-specific-strength and high-specific-modulus aluminum alloy material has excellent specific strength and specific modulus performance and is an ideal material of modern manufacturing structure lightweight components.