The invention discloses a bad-flavor-free multifunctional electric power equipment casing rust-resisting paint characterized by comprising the following components by weight: 2-3 parts of polycaprolactone, 1-2 parts of sodium benzoate, 2-4 parts of iron carbonate, 0.2-0.3 part of vanillin, 6-9 parts of silicone acrylic emulsion, 4-6 parts of precipitated barium sulfate, 4-6 parts of mica iron oxide, 0.4-0.6 part of polyoxyethylated castor oil, 1-2 parts of zinc stearate, 1-2 parts of dibutyl phthalate, 32-37 parts of epoxy resin, 3-5 parts of aluminium silicate, 1-2 parts of crosslinking agent TAIC (triallyl isocyanurate), 22-26 parts of diphenyl oxide resin, 0.5-1.0 part of dodecencylsuccinic acid, 10-14 parts of xylene, 5-7 parts of butyl acetate and 4-7 parts of an additive; the bad-flavor-free multifunctional electric power equipment casing rust-resisting paint has high adhesion and good film forming effect, the paint film is flexible and hard, the added vanillin and silicone acrylic emulsion can improve paint bad flavor to make the flavor pleasant and easy to accept, the bad-flavor-free multifunctional electric power equipment casing rust-resisting paint has good water, rust and corrosion resistance and high aging resistance, the added additive also has the noise reduction effect to improve impact of noise produced by the work of electric power equipment on the people's physical and mental health.