The invention discloses a quick-setting material for rapid grouting bladder plugging of an oil pipeline and application thereof. The quick-setting material is used for rapid grouting bladder type first-aid repair of an oil pipeline, and is pressed into a special plugging bladder by an air pump, when the plugging bladder expands and closely contacts the pipeline inner wall, the injection stops. After the quick-setting material solidifies, the plugging is completed. The quick-setting material comprises a composite resin system and a curing system. The composite resin system refers to the composite resin prepared from urea formaldehyde resin and phenolic resin in a mass ratio of 3:7-9, and then imidazoline accounting for 5.00wt% of the composite resin is added. The curing system is obtained by: taking a sulfuric acid solution with a mass concentration of 20wt% and an adding amount accounting for 25-30wt% of the composite resin, and then adding Tw-80 accounting for 5.00wt% of the compositeresin. During on-site construction, the quick-setting material provided by the invention has an initial setting time of less than 15min, a final setting time of less than 60min, and a final setting compressive strength of greater than 5.0Mpa.