The invention belongs to the technical field of organic photoelectric materials, and particularly relates to a transition metal compound serving as a phosphor material, a preparation method and application thereof. The wavelength of the emitted light of the material can be regulated in a large wavelength range through matching of Z1 and Z2, meanwhile, the wavelength of the emitted light can be further and precisely regulated by changing the heteroatom on the main ligand, and accordingly the electroluminescent material with the luminescent color being predictable is obtained. The main ligand has the same framework structure, and large-scale regulation of the wavelength of the emitted light from green light to dark red light can be achieved only by changing the position of a functional groupand the position and the variety of the heteroatom on the main ligand. The prepared compound has the high luminescence efficiency, the preparation methods of luminescent materials with different colors are basically the same, and the preparation methods are easy to operate.