The invention discloses a ferrite-carbon nanotube composite wave absorption material and a preparation method thereof. The ferrite-carbon nanotube composite wave absorption material comprises a carbonnanotube and a ferrite layer, wherein the ferrite layer comprises 5-17% of macromolecule binding agent, 80-92% of ferrite and additive smaller than or equal to 3% by calculation according to percentby weight, and the carbon nanotube layer comprises 8-20% of macromolecule binding agent, 75-87% of carbon nanotube and an additive smaller than or equal to 5%. By combining a high-absorption magnetic-loss ferrite wave absorption material and light-weight dielectric loss-type carbon nanotube wave absorption material, the high-temperature property, the density, the stability, the processing performance and the application performance of the ferrite are improved; and by changing relative content of each constituent of the composite material, a formula and a preparation process, the electromagnetic parameter of the composite material is controlled, the wave absorption frequency band of a compound is expanded, and the absorption efficiency of the compound is improved.