The invention relates to a weather-resistant inorganic exterior wall coating based on graphene and mullite and a preparation method thereof, and belongs to the field of inorganic wall coatings based on graphene. ~15%, graphene 1~20%, vitrified microbeads 2~10%, sepiolite 3~10%, albite 6~15%, light calcium carbonate 5~18%, bauxite 5~ 10%, nano-titanium dioxide 2-8%, nano-silica sol 10-15%, additives 20-30%, pure acrylic emulsion 3-6%. The coating has strong bonding strength, simple construction, and the coating is resistant to washing. At the same time, under high temperature conditions, the coating does not bubble, crack, or fall off, and has the functions of waterproof, fireproof, salt resistance, alkali resistance, heat insulation, anti-corrosion, anti-rust, and anti-aging.