The invention provides a Volvaria volvacea cultivation material and a preparation method and application thereof and relates to the technical field of Volvaria volvacea cultivation. The Volvaria volvacea cultivation material has the advantages that the Volvaria volvacea cultivation material uses factory-cultivated Flammulina velutipes residue waste and quick lime as raw materials, the raw materials are cheap, and the problems that the Flammulina velutipes residue waste needs to be soaked with strong lye during treatment, and the discharge of generated wastewater easily causes secondary pollution and soil alkalization; when the Volvaria volvacea cultivation material is used to perform Volvaria volvacea cultivation, the obtained Volvaria volvacea is good in quality and high in commercial value; Volvaria volvacea residues obtained after the cultivation can be directly returned to the field to replace organic fertilizer, organic fertilizer use amount can be reduced, and soil improvement can be achieved; by the Volvaria volvacea cultivation material and the cultivation method, Volvaria volvacea cultivation is performed in the idle period of a greenhouse, crop rotation of Volvaria volvacea and next-crop vegetables is formed, and income can be increased by 58-217%; waste recycling can be achieved which soil can be improved, the occurrence of root nematodes can be reduced, and the sustainable development of the greenhouse is benefited.