The present invention relates to a sound absorbing and insulating material with superior moldability and appearance and a method for manufacturing the same, more particularly to a sound absorbing and insulating material consisting of an inner sound absorbing and insulating layer 1 formed of a first nonwoven fabric mainly formed of a heat-resistant fiber and a binder uniformly distributed inside the first nonwoven fabric and maintaining the three-dimensional structure inside the first nonwoven fabric and an outer sound absorbing and insulating layer 2′, 2″ formed of a second nonwoven fabric mainly formed of a heat-resistant fiber, wherein the outer sound absorbing and insulating layer is stacked on one or both sides of the inner sound absorbing and insulating layer, and a method for manufacturing the same. The sound absorbing and insulating material of the present invention has superior sound-absorbing property, flame retardancy, heat resistance, heat-insulating property and high-temperature moldability. In addition, there is no concern of deterioration of surface appearance caused by leakage of the binder due to the presence of the outer sound absorbing and insulating layer.