The invention discloses an energy-saving insulated flame-retardant water-proof corrosion-proof functional coating and a preparation method thereof. The functional coating is prepared from the following raw materials: an aqueous polyurethane dispersion, a flame retardant, a flame-retardant antismoke agent, a hollow glass bead, a wetting dispersant, an anti-settling agent, a thickening agent, water, a leveling agent and a de-foaming agent, has the functions of heat preservation, flame retarding, water prevention and corrosion resistance and the like, is unlikely to become yellow when in use, is safe and reliable, is excellent in performance, is good in compatibility with pigment dyestuff, is unlikely to damage the coated surface, is easy to modify, is nontoxic, is safe to use, does not pollute environment and is suitable for the fields of inner and outer wall coating, pipeline coating, wood furniture coating, decoration coating, chemical corrosion-proof coating and the like.