The invention discloses a method for preparing a water-based ceramic functional coating by taking a high-entropy oxide as a functional pigment, the water-based ceramic functional coating is prepared by taking a high-entropy oxide (A) 3O4 as the functional pigment and mixing with a filler, a binder, a solvent, a dispersing agent, a wetting agent, a defoaming agent and a flatting agent. A in the functional pigment high-entropy oxide (A) 3O4 is at least four kinds of metal elements including Cu, Cr, Co, Mn, Fe, Ni, Al, Zn, Ti and Mg, and in the high-entropy oxide ceramic, all the metal elements are equal in molar ratio. The functional coating prepared from the coating has a good solar spectrum selection characteristic within the wave band of 0.3-25 microns, has a good infrared radiation characteristic within the wave band of 3-12 microns, and has excellent thermal shock resistance and high temperature resistance (greater than or equal to 800 DEG C). Based on the regulation and utilization characteristics of electromagnetic waves, the method has important application value in the fields of solar photo-thermal utilization, infrared enhanced heat transfer, heat dissipation, energy conservation and the like.