The invention relates to stone-like paint prepared from flexible colored particles and a preparation process of the stone-like paint. The stone-like paint is mainly prepared from the following components in parts by weight: water, attapulgite, cellulose, a pH regulator, a diatomite, a pure acrylic emulsion, a coalescing agent, a water-based wax emulsion, a water-based defoamer, a polyurethane thickener, flexible colored particles, fine sand and an alkali swelling thickener. The invention overcomes the defects that the granulation process of the existing sand-in-water coating and water-in-watercoating is complicated, the effect reproducibility among batches is poor, the granulation process is greatly influenced by the environment temperature, the construction effect is influenced by the air pressure, the construction efficiency is low and the like; through cooperation of the flexible colored particles, the fine sand, the attapulgite, the cellulose, the alkali swelling thickener, the polyurethane thickener and the water-based wax emulsion, the fusion degree of the flexible colored particles and other components in a coating system is high, and the coating has the advantages that theflexible colored particles are not prone to breakage, the production process difficulty is low, atmospheric pressure spraying can be adopted during construction, and the construction efficiency is high.