The invention relates to a preparation method of a water-based flame-retardant water-pressure-resistant polyurethane emulsion, which is prepared from isophorone diisocyanate, hydrogenated phenylmethane diisocyanate, polyoxypropylene triol, tris(dipropylene glycol)phosphite, linear dihydroxyalkyl siloxane, melamine cyanurate, dimethylolpropionic acid, 2-methyl-1,3-propylene glycol, triethylamine, hydrazine hydrate and deionized water through a prepolymerization reaction, a neutralization reaction, an emulsification reaction and a chain extension reaction. The fabric is stiff and dry in hand feeling and is high in elasticity, high in fastness, cold-resistant, high in water pressure resistance, good in flame retardance, environmentally friendly and low in production cost.