The invention relates to infrared camouflage paint as well as a preparation method and an application thereof. The paint comprises filler, a coating agent and an additive. The preparation method comprises the following steps: mixing and ball-milling 30-90 parts by weight of solvent, 1-30 parts by weight of wetting dispersant and 5-60 parts by weight of filler, so as to obtain lanthanum-based rare earth compound powder concentrated pulp, ball-milling the solvent and the coating agent so as to obtain the ball-milled coating agent, and ball-milling the solvent, the lanthanum-based rare earth compound powder concentrated pulp and the ball-milled coating agent so as to obtain the infrared camouflage paint. According to the application of the infrared camouflage agent, the infrared stealth coating is added to a substrate by using a dipping, coating or padding method. The invention provides a novel low-emissivity material, namely the infrared camouflage paint, not only are materials for the paint easy to obtain, but also the paint is simple to operate, relatively low in cost, capable of effectively pretending and shielding human bodies, glass, polymer films, military weapons and the like and reducing the possibility that the articles are detected by infrared detectors, and has a good application prospect.