The invention discloses a phase change type reflective thermal insulation coating and a preparation method thereof. According to the specific implementation scheme, the invention provides a phase change type reflective thermal insulation coating, emulsion, water, titanium dioxide, phase change microcapsules (MicroPCMs), thermal insulation powder, coarse whiting powder, kaoline and aids are taken as main ingredients, and the coating comprises the following components in percentage by mass: 25-45 percent of emulsion, 5-15 percent of water, 5-10 percent of titanium dioxide, 3-5 percent of MicroPCMs, 5-10 percent of thermal insulation powder, 5-15 percent of coarse whiting powder, 5-8 percent of kaoline, 5-8 percent of talcum powder, 2-3 percent of propylene glycol and 1.5-6 percent of aids. The phase change type reflective thermal insulation coating and the preparation method thereof disclosed by the invention have the beneficial effects that compared with an existing thermal insulation coating, the phase change type reflective thermal insulation coating disclosed by the invention has the advantages that 1, phase change microcapsules (MicroPCMs) materials are fused, so that the temperature difference between day and night in coating application is reduced, and a phenomenon that the thermal insulation property of the coating is reduced due to extremely large surface temperature difference is avoided; and 2, the three adopted modes such as surface heat reflection, internal heat absorption and heat barrier are combined, the thermal insulation efficiency is improved, and the thermal insulation effect is improved by over 50 percent compared with that of a common thermal insulation coating under the same thickness.