Provided modified aluminate cement is prepared from the following raw materials: aluminate cement, titanium-silicon micro-nano capsules, magnesium oxide, a phosphate, fly ash, modified acrylic emulsion and an activating agent, wherein the titanium-silicon micro-nano capsule is prepared from orthosilicate and titanate under the conditions of a surfactant and alkalinity. The aluminate cement prepared by the invention is wide in raw material source and simple in preparation method, has good high-temperature resistance, wear resistance, sulfate corrosion resistance, adhesion, crack resistance, freezing resistance, seepage resistance, corrosion resistance and aging resistance, also has good effects of adsorbing and degrading formaldehyde and organic pollutants due to the TiO2 structure, plays agood role in environmental protection, ensures the safety as a structural part, and has a wide application prospect.