The invention discloses an acrylate emulsion for a waterborne multicolor paint and a production process of the acrylate emulsion. The acrylate emulsion as the main raw material of the waterborne multicolor paint is prepared from the components including water, an emulsifier, an initiator solution I, an initiator solution II and monomers according to the steps of sequentially preparation of the initiators, preparation of emulsifier, preparation of core liquid, preparation of shell liquid, posttreatment and filtering, wherein the monomers comprise methyl methacrylate, butyl acrylate, methacrylic acid, hydroxyethyl methacrylate and polymerizable organosilicon monomers. The water resistance of the waterborne multicolor paint prepared from the acrylate emulsion prepared according to the production process is greatly improved, and therefore the service life of wall surface paints under moist environments is greatly improved; meanwhile, the paint has good performance and relatively high practical effect, and meets the basic requirements of brushing wall surface paints.