In aerospace field and submarine field, structure vibration is ubiquity and the work environments is very bad which is oily and work temperature is high. Damping material is a kind of high molecular polymer which has elastic solid property and viscous fluid property at the same time and can attenuate bending vibration of structures and reduce radiated noise. So using damping material to control the structures vibration is an effective method. By experimentations and performance testing of 200 formulas, a new kind of excellent damping material has been successfully developed which is oil resistance and high temperature resistance. At the same time, the paper has established the formula database of damping materials which is a good base for many different engineering applications of damping material with oil resistance and high temperature resistance.