The invention discloses a gold-ceramic electric contact composite material and a preparation method thereof. The composite material comprises the following components (wt%): 1-5% of ceramic (Ti3SiC2),0.1-5.0% of zinc oxide (ZnO), 0.1-5.0% of rare earth oxide (Sm2O3), 0.1-5.0% of rare earth oxide (Gd2O3), and the balance gold. The preparation method comprises the steps of mixing gold powder and ceramic powder which are prepared by an electrolysis method based on weight percentage; uniformly mixing through a high-energy stirring type ball mill; and then processing by isostatic cool pressing, vacuum sintering, thermal extruding, drawing, rolling, etc. The method has the characteristics that the preparation processes are simple; environmental pollution is avoided; the comprehensive performance of the composite material is outstanding and stable; and the composite material is applicable to preparation of electric contact materials such as a commutator, a sliding ring, an electric brush andan electrode.