The invention relates to a high-performance glass fiber reinforced polypropylene composite material specially used for micro-foaming. The composite material is characterized by comprising the following components in percentage by weight: 50-80% of composite polypropylene, 2-10% of a graft compatilizer, 5-30% of a chopped glass fiber mat and 2-10% of an elastomer flexibilizer, totaling 100%, wherein the composite polypropylene is formed by compounding high-rigidity homo polypropylene HCIPP and high melt strength polypropylene HMSPP, wherein a high-rigidity homo polypropylene HCIPP substrate is beneficial to the retention rate of the mechanical property of the composite material after foaming; the high melt strength polypropylene HMSPP can ensure cell uniformity, structure integrity and reasonable distribution; and the added multi-monomer-block copolymer is capable of improving the interface condition of the composite material. Therefore, after micro-foaming, the composite material is greatly reduced in density, is not greatly reduced in tensile strength and bending strength and is improved in impact strength. The composite material is a polymer-based composite material having outstanding advantages of light weight, high strength and high cost performance.