The invention relates to an aluminum alloy material used for aerospace large heavy castings, and a preparation method of the material. The novel hypoeutectic aluminum alloy material with high strength and toughness is prepared from common aluminum in batches on the basis of aerospace standard ZL114A alloy through adjusting components of alloy, controlling the trace element content and adopting a batch production refining deterioration and melting preparation technology. The aluminum alloy material is suitable for aerospace large heavy castings and has same mechanical performances with performances of small-batch produced refined aluminum, the cost is reduced by 5000 yuan/t, and aerospace product batch production demands are met.