The invention discloses a preparation method of a Cr-Ce composite catalytic degradation architectural coating, the Cr-Ce composite catalytic degradation architectural coating is prepared from paraffin, an emulsifier, isophorone diisocyanate, polyethylene glycol, dibutyltin dilaurate, hydroxyethyl methacrylate, fly ash, chromium nitrate, cerium nitrate, alumina powder, and other raw materials, theCr-Ce composite catalytic degradation architectural coating is based on a waterborne polyurethane coating with excellent mechanical properties, fire resistance and low toxicity, the fly ash is respectively treated by an acid and an alkali to be used as a substrate to load a Cr-Ce composite oxide to provide a degradation space for organic pollution, adsorption and degradation types of organic matters are greatly increased, by combination of a paraffin emulsion, the problem of easy aggregation and precipitation of Cr-Ce composite supported zeolite can be solved, coating performance stability canbe ensured, the obtained architectural coating has excellent functions of adsorption, degradation and elimination of volatile organic compounds, the process is simple, the operation is convenient, raw material cost and processing cost both are low, and the application is wide.