The invention relates to a heat dissipation hydrophilic coating and a preparation method thereof. The heat dissipation hydrophilic coating is prepared from, by weight, 10-40% of modified waterborne epoxy resin, 1-20% of water soluble acrylic resin, 1-10% of acrylic resin, 0.1-5% of hydrophilic surfactant, 1-5% of a carbon nanomaterial, 0.1-5% of a wetting agent, 0.1-5% of a flatting agent, 2-10% of cosolvent and the balance deionized water. Good compatible dispersion to the carbon nanomaterial is obtained through epoxy resin modification, a good film-forming property is obtained, the carbon nanomaterial can exert the characteristics of high thermal conductivity, high infrared radiance and the like, the hydrophilic coating can have the radiation and heat dissipation functions, heat dissipation and anti-corrosion performance of air conditioner aluminum foil, an aluminum foil heat exchanger and other equipment can be remarkably improved, the energy efficiency ratio is raised, and important business value is achieved.