Environmental-friendly foaming plastic and a preparing method thereof are disclosed. The plastic comprises following raw materials by weight: starch-grafted ABS, polylactic acid (PLA), poly(hydroxy ester ether), plant powder, wood fiber, a silane coupling agent KH550, aluminate, ethylene vinyl acetate copolymer (EVA), polystyrene (PS), dipentaerythritol ester PCB, glycerin, polyethylene wax, azodicarbonamide (AC), p-toluenesulfonhydrazide (TSH), nanometer calcium carbonate, superfine talcum powder, kaolin, titanium dioxide, an antioxidant 2246 and an antioxidant BHT. The plastic has good heat resistance, corrosion resistance and processing performance like traditional foaming plastic and is excellent in biodegradability so as to avoid environment pollution.