The present invention relates to a preparation method for an electromagnetic wave shield composite material and the electromagnetic wave shield composite material prepared by the method. The present invention uses a highly conductive carbon fiber prepared by electroless and electrolytic continuous processes, and thus is suitable for an EMI shield due to having an excellent conductivity and low surface resistance, and is capable of providing the electromagnetic wave shield composite material having an excellent productivity and economic value. Furthermore, the electromagnetic wave shield composite material of the present invention can be used for blocking electromagnetic waves by being inserted into a cell phone cover and a cell phone pouch, and can also be applied to a bracket for protecting an LCD of a portable display product.