The invention discloses preparation and a coating method of a fusing agent for a wire-wound fusible resisto. The fusing agent comprises the raw materials in percentages by mass: 25-40% of phenolic resin, 5-15% of ethylene glycol monomethyl ether, 35-60% of tin powder, 2-10% of magnesium powder, 3-10% of sulfur powder and 2-10% of tributyl phosphate. The preparation method comprises the following steps: first, separately weighing the raw materials for later use; then pre-treating the sulfur powder, wherein the proportion of the pre-treatment is as follows: 12.5% of sulfur powder, 10% of anhydrous ethanol, 20% of ammonia water, 15% of deionized water and 42.5% of tetraethylorthosilicate; and then uniformly mixing the phenolic resin, the ethylene glycol monomethyl ether and the tributyl phosphate, adding the tin powder and the magnesium powder, adding a sulfur powder turbid liquid after being ball-milled, and mechanically mixing the mixture to obtain the fusing agent. The coating method comprises: finally, coating the fusing agent to 2-6 line widths in the middle position of a resistance wire on the resistor; and then drying and coating a heat-isolating layer and an insulating finishing coat. By virtue of the fusible resistor prepared by the invention, the resistance wire can be fused within 90s under a 1.14-time rated current, so that the technical requirements of a high performance charger on the fusible resistor are satisfied.