In recent years, with the blowout development of ultra-high voltage transmission technology, it is imperative for the localization of high-voltage AC cable material. In this paper, the performance differences among the XLPE insulation material at home and abroad are analyzed in brief. A new domestic 220 kV high-voltage AC crosslinkable polyethylene cable material is developed by structure adjustment of molecular chain of resin, improvement of processing technology and the impurity control. A series of performance comparison are made among the new domestic developed insulation material and the imported materials with the same grade. The results show that the new domestic 220 kV high-voltage AC crosslinkable polyethylene cable material is basically the same as the imported products in electrical, mechanical and thermal properties. And all property parameters meet the Chinese national standard. At present, the 220 kV XLPE cable extruded by the above material has passed the relevant property testing and technical appraisal, and has been put into operation on the demonstration project of 220 kV Jingmao to Shuibei cable line in Shenzhen. The cable line is running in good condition until now.