The invention relates to the technical field of foam materials, and provides a preparation method and application of a heat insulating and inflaming retarding foam material in order to solve the problem that an existing foam material is extremely likely to be burnt. Dip-coating modification is carried out on a foam material through a silicon resin solution with excellent inflaming retarding performance, hollow filler with heat insulation, sound insulation and other performance is added to the silicon resin solution, the low density characteristic and reinforcing function of the hollow filler are utilized, and the light, high-strength, heat insulating and inflaming retarding foam material is prepared. Meanwhile, organic silicon resin and the functional filler are compounded and smeared to the surface of a traditional foam material, and the light, heat insulating and inflaming retarding foam material is prepared.