The invention discloses a color-variable art paint and a preparation method thereof, belonging to the technical field of water-based paints. The color-variable art paint comprises the following components in parts by mass: 20-30 parts of deionized water, 0.1-1 part of a thickener, 0.1-2.5 parts of a pH value regulator, 0.1-1 part of a dispersant, 1-3 parts of an antifoaming agent, 0.1-0.5 part ofa wetting agent, 0.1-0.5 part of a bactericide, 0.1-0.5 part of a mold inhibitor, 0.1-0.5 part of an antifreezing agent, 0.5-1.5 parts of a film forming aid, 30-40 parts of an acrylic emulsion, 5-15 parts of a photosensitive color-variable material and 25-30 parts of glass beads. The color-variable art paint overcomes the shortcoming of inclusion of volatile solvents in conventional color-variablepaints, and has a solid content of 100%. At the same time, the paint does not emit organic solvents and chemical emulsifiers, can change color with light, presents different colors with light, and achieves the purpose of beautifying the environment.