The invention discloses a preparation method of a high-temperature resistant and impact resistant metal compound material and belongs to the technical field of preparation of metal materials. The preparation method comprises the following steps that (1) tungsten oxide, tin oxide, barium oxide, carbon black, molybdenum powder, titanium boride and copper powder are weighed, evenly mixed and added into a polyvinyl alcohol water solution, and the mixture is stirred till being even for standby; (2) the mixture is put into a mould and pre-molded in a vacuum drying tank; (3) high silica glass fibers are cut into short sections and dried, then the surfaces of the short fiber sections are cleaned with acetone, and the short fiber sections are treated with concentrated sulfuric acid, cleaned with distilled water and then dried for standby; (4) the treated high silica glass fibers are evenly dispersed on the pre-molded mixed metal sheet, and the fibers and the mixed metal sheet are pressed in a press; and (5) the pressed material is subjected to programmed heating till high-temperature sintering and cooled to the indoor temperature, and the final preparation process is completed. As for the metal compound material prepared according to the preparation method, the ingredients are dispersed evenly, and by additionally arranging the high silica glass fibers, the impact resistance and the high-temperature resistance of the metal compound material are improved.