The invention discloses a high-performance structural adhesive for a reinforcement project with water environment and a preparation method of the high-performance structural adhesive. The structural adhesive is prepared from a component A and a component B, wherein the mass ratio of the component A to the component B is (2 to 1) to (3 to 1). The component A consists of nano silica grafted modifiedepoxide resin, epoxy active diluent, an elastomeric modifier, water-absorbent resin, a defoaming agent, a dispersing agent, active silica powder, cement, calcium sulfate whisker, organic montmorillonite and a thixotropic agent; the component B consists of a compound amine curing agent, a curing accelerator, a coupling agent, the defoaming agent, the dispersing agent, the active silica powder, thecement, the calcium sulfate whisker, the organic montmorillonite, the thixotropic agent and the carbon black. The high-performance structural adhesive for reinforcement projects with the water environment, disclosed by the invention, has the advantages of high bonding strength of water interface, high mechanical strength, good toughness, excellent impact resistance and high fatigue resistance, good construction performance and the like; the bonding effect and durability of the structural adhesive in the reinforcement projects with water environment can be remarkably enhanced; in addition, thepreparation method of the high-performance structural adhesive is especially suitable for meeting glue demands of a hydraulic structure reinforcement and restoration project.