The invention discloses a vibration-damping heat-insulation paint which comprises the following components by mass percent: 9.5-11.5% of chlorine ether resin, 5-6% of adhesive, 3.5-4.5% of melamine urea copolymerization resin, 18-21% of environment-friendly solvent, 14.5-16.5% of soft filler I, 13-15% of soft filler II, 18-20% of soft filler III, 3.8-5.8% of plasticizer, 1.5-2.3% of titanium pigment and 4-6% of hollow micro-bead. The invention also discloses a preparation method of the vibration-damping heat-insulation paint. The high-efficiency vibration-damping heat-insulation paint can be coated on various substrates, has advantages in various aspects such as heat insulation, heat preservation, fire prevention, water prevention, crack prevention, noise prevention, weather resistance, acid / alkali resistance, salt-fog resistance, corrosion resistance, vibration damping, durability and the like, is suitable for thermal protection and vibration damping at the external surfaces of spaceflight instruments and data recording instruments of aerospacecrafts and can be used for damping the impact friction and the like of containers and the like.