The invention discloses an inorganic anti-radiation coating for a lining of a radiation chamber of an ethylene cracking furnace. The inorganic anti-radiation coating comprises the following components in parts by weight: 15-20 parts of cobalt oxide, 1-10 parts of zirconium oxide, 3-10 parts of aluminum oxide, 1-5 parts of silica powder, 8-12 parts of silicon carbide, 3-7 parts of chromium oxide, 0-8 parts of manganese oxide, 0-5 parts of carborundum, 2-10 parts of sodium silicate, 5-8 parts of aluminum dihydrogen phosphate, 1-5 parts of quartz powder, 1-5 parts of feldspar powder, 10-15 parts of phosphorus pentoxide, 0-3 parts of chrome iron ores, 0-2 parts of zircon sand, 0-1 part of cerium oxide, 1-4 parts of graphite powder, 0.5-1.0 part of boron oxide and 0.1-0.5 part of carclazyte, wherein the particle of each solid component is not smaller than 350 meshes. The invention also discloses a preparation method of the inorganic anti-radiation coating for the lining of the radiation chamber of the ethylene cracking furnace. By using the inorganic anti-radiation coating disclosed by the invention, the high temperature resistance and thermal shock resistance of the coating can be effectively improved, the utilization ratio of radiant energy can be increased, and the binding force of the coating and the lining material of the cracking furnace can be enhanced.