A reflective thermal-insulation exterior wall coating is characterized in that based on the total weight of the coating, components of the coating contain, by weight, 40-50% of waterborne acrylic resin, 10-20% of water, 10-15% of silica powder, 5-8% of expanded perlite, 3-5% of hollow ceramic microsphere, 2-5% of vermiculite powder, 3-5% of sericite powder, 5-8% of coal ash, 1-2% of an antifreeze agent, 4-6% of titanium dioxide, 4-6% of barium sulfate, 0.1-0.15% of aluminium titanate, 0.1-0.15% of silicon carbide, 0.1-0.15% of cordierite, 0.3-0.8% of an antifoaming agent, 0.1-0.15% of a bactericide, 0.1-0.4% of a dispersant, 1-1.5% of an alkali swelling thickener, 0.1-0.2% of a cellulose thickener, 0.1-0.15% of a wetting agent and 0.5-1% of an film-forming additive.