The invention relates to a water-based magnetorheological polishing solution for optical manufacture, which is formed by the following volume components, water-based remixed carrier liquid 25%-75% and additive component 25%-75%, wherein the additive component is dispensed by the following volume percentage, carbonyl iron powder 80%-90%, nanometer iron powder 4%-10% and polishing powder 4%-10%, the water-based remixed carrier liquid which is measured according to volume percentage comprises deionized water 85%-90%, dispersing agent 3%-5%, wetting agent 2%-5% and thixotropic agent 3%-5%, the method for preparing comprises the following steps: mixing deionized water and thixotropic agent, stirring in indoor temperature for 1-2 hours, and adding dispersing agent, stirring in indoor temperature for 0.5-1 hour, and then adding wetting agent, stirring in indoor temperature for 0.5-1 hour, getting water-based remixed carrier liquid, mixing additive component and water-based remixed carrier liquid, adding into a ball-milling tank, adding into a steel ball according to mass ratio which is 1:10, grinding for 3-5 hours in the speed which is 20-30r / m, separating out a steel ball, and getting products. The polishing solution of the invention has the advantages of excellent stability, high rheological property, excellent oxidation resistance property and simple and environmental-friendly preparation technology.