The present disclosure relates to a magnesium-based raw material and a preparation method thereof. According to the technical solution, 40-60 wt % fused magnesia particles, 30-40 wt % fine monoclinic zirconia powder, 5-20 wt % fine zirconium oxychloride powder, 0.5-1.5 wt % calcium hydroxide nanopowder, 0.2-0.5 wt % calcium hydroxide nanopowder, and 0.1-0.3 wt % maleic acid are stirred for 15 min to mix well in a high-speed mixing mill at a constant temperature of 25° C. to obtain a mixed powder; and the mixed powder is mixed through a ball mill at a constant temperature of 25° C. for 3 min, roasted in a high temperature furnace at 250-400° C. for 0.5-3 h, and finally cooled to room temperature.