The invention discloses a novel damping material and a preparation method. The damping material is prepared from components in parts by mass as follows: 20-30 parts of natural rubber, 10-15 parts of butadiene rubber, 2-4 parts of stearic acid, 1-2 parts of calcium carbonate, 2-3 parts of magnesium methacrylate, 1-2 parts of paraffin, 3-5 parts of ethylidene norbornene, 3-6 parts of white carbon black, 1-2 parts of rosin, 5-9 parts of 2,6-ditert-butyl-4-methylphenol and 1-2 parts of toluene-heptane. The damping material has a good damping effect, can greatly prolong the service life of an engine and avoid damage to the engine and meets the market demands. Besides, the processing method of the novel damping material is simple and convenient to popularize.