The invention belongs to the field of rare earth magnetic functional materials, and particularly relates to a single-phase rare earth oxide ceramic material with room-temperature exchange bias and a preparation method thereof. The single-phase rare earth oxide ceramic material adopts a molecular formula as follows: YbCr0.4Fe0.6O3. The preparation method thereof comprises the following steps: uniformly mixing a powdery ytterbium-source compound, a powdery chromium-source compound and a powdery iron source compound according to metal atom percentages; pressing the uniformly mixed powder into a blank; presintering and performing high-temperature solid-phase sintering on the obtained pressed blank, and then cooling; detecting a single-phase property of an obtained product through X-ray diffraction, performing a sufficient solid-phase reaction to form a perovskite-type Yb(Cr.Fe)O3 single phase, namely a target product YbCr0.9Fe0.1O3. The single-phase oxide ceramic material shows an obviousexchange bias effect in the temperature range of 50K to 350K, and especially has an exchange bias effect around the room temperature of 300K, so that a great convenience is brought to practical application.