An alumina/titanium silicon carbide composite material is prepared by making titanium aluminum carbide (Ti3AlC2) in uniform contact with silicon monoxide (SiO), and carrying out vacuum sintering. The composite material is obtained through mutual diffusion of aluminum and silicon and has high compactness and stable performance. In the composite material, the alumina is generated by means of a reaction between the titanium aluminum carbide and the silicon monoxide, and can be uniformly wrapped around surfaces of titanium silicon carbide crystals to form a relatively compact oxide film, such that substance exchange between a matrix and the outside is hindered, and overall antioxidation of the composite material is improved. Toughness of the composite material is enhanced by means of the titanium silicon carbide. The prepared composite material has relatively high purity, relatively low sintering temperature, and relatively high bending strength. The process is simple and convenient for industrial production.