The invention discloses novel rubber good in oil resistance. The novel rubber comprises 15-35 parts of chlorinated ethylene propylene rubber, 20-30 parts of butadiene-acrylonitrile rubber, 25-40 parts of fluoride rubber, 3-7 parts of zinc oxide, 5-10 parts of calcium borate, 3-8 parts of magnesium methacrylate, 10-15 parts of white carbon black, 20-40 parts of paraffin, 12-20 parts of bismaleimide resin, 15-28 parts of phenol-urea-formaldehyde copolycondensation resin, 2-7 parts of 2-(p-benzyl-chloride-sulfhydryl-thioxo) benzimidazole and 15-22 parts of anti-aging agent. The novel rubber is prepared through a process of plastication, mixing, vulcanization, drying, cooling and standing and the like. According to the prepared novel rubber, the use of a rubber material in the environment filled with oil is met, and original rubber performances are not affected. The oil resistance (the expansion rate after oil soaking) of the novel rubber is 6.5-8.5%, the heat-resistant coefficient (the coefficient of thermal aging) is 0.61-0.78, the air tightness is 2.5-2.8 m2/s.Pa, and the tear resistance is 58-63 kN.m.