Abstract: Similar material is the key to the model test of reservoir rock slope. A kind of solid-liquid two-phase similar material which can simulate physical and mechanical properties similar and seepage action similar of slope rock mass at the same time is developed through orthogonal test and a large number of laboratory tests. The material uses quartz sand, iron powder and barite powder as aggregate, cement and gypsum as cementing agent and silicone oil as regulator. The influence of material different ratios on its mechanical properties is systematically studied, and the main control components of each property are determined, and the empirical equation between each parameter and the ratio of materials is established by multiple regression analysis. Finally, the similar materials of model test are prepared in combination with an engineering case, and the similar effect of those materials is evaluated, and the materials are applied to the failure mode and seepage field analysis in the model test of reservoir slope. The test results show that: (1) physical, mechanical parameters, and hydro-physical properties of similar materials are widely distributed, which can meet the requirements of physical and mechanical properties similar and seepage action similar of rock slope model test, and it is an ideal solid-liquid two-phase similar material; (2) The main control components of similar materials are obvious, which is convenient to simulate different types of slope rock mass by adjusting the ratio; (3) Multiple regression analysis can efficiently concoct similar materials for slope model test, and the similarity effect is good. The slope model undergoes compression shear deformation and failure, and the variation law of pore water pressure during model testing under the action of reservoir water is analyzed. The research results can provide reference for further research on multi-field evolution characteristics of reservoir rock slope model test.