The invention relates to a ZnO/beta-FeSi2 composite material and a method for preparing the same, in particular to a composite material and a method for preparing the same. The method solves the problem that beta-FeSi2 has poor oxidation resistance under a condition of long-term high temperature service. The ZnO/beta-FeSi2 composite material is prepared from a sodium oleate aqueous solution, the beta-FeSi2 and zinc acetate. The method for preparing the composite material comprises: step one, adding the beta-FeSi2 to the sodium oleate aqueous solution and stirring the mixture; step two, dissolving the zinc acetate in isopropyl alcohol, dripping ethylene alcohol amine to the isopropyl alcohol, heating the mixture through water bath, and stirring the mixture; step three, performing ultrasound treatment on the mixed liquid prepared in the step two, then adding the mixed liquid to the mixed liquid prepared in the step three, heating the mixture through the water bath, and stirring the mixture; and step four, performing drying and heat treatment to obtain the ZnO/beta-FeSi2 composite material. The ZnO/beta-FeSi2 composite material prepared by the method has good oxidation resistance under the condition of long-term high temperature service. The method has the advantages of simple process and convenient operation.