The invention relates to an environment-friendly inorganic spongy water storage material. The environment-friendly inorganic spongy water storage material is characterized by being prepared from, by mass, 10-35 parts of molybdenum tailings, 20-55 parts of loess in the Guanzhong basin, 10-30 parts of expanded perlite (glass beads), 2-5 parts of a compound additive and 0.5-2 parts of a pore-forming agent. The invention further discloses a preparation method of the environment-friendly inorganic spongy water storage material. The environment-friendly inorganic spongy water storage material has the advantages of being simple in composition, low in preparation cost, high in water storage capacity and high in environmental benefit. Industrial tailings and loess in the Guanzhong basin are selected as main raw materials, and thus secondary pollution is avoided in the production process.