Starch substrate material blending with different content of citrus pericarp residue was used to prepare biodegradable composite cushioning packaging material through extrusion. The radius expansion rate, apparent density, compressive strength, scanning electron microscopy, moisture absorption rate, and infrared spectrum performance were analyzed. The structural difference and influence of citrus pericarp residue on performance of the composite material was studied. The results showed that addition of citrus pericarp residue decreases the apparent density and compressive strength of the material; material with 30% and 50% of citrus pericarp residue can easily reaches moisture equilibrium state, and the moisture content of them was less than pure starch material; in addition, the material with 30% of citrus pericarp residue has the largest radius expansion and presents the best foam state.