A hydrophobic heat-insulation coating comprises, by weight, 35-45% of an emulsion, 8-11% of a pigment, 4-7% of a heat-insulation functional filler, 10-12% of a body filler, 0.4-0.5% of a wetting agent, 1-1.5% of a dispersant, 0.5-0.6% of an antifoaming agent, 0.7-0.8% of a thickener, 1-2% of a film forming assistant, 7-10% of a hydrophobic agent, 0.3-2% of other assistants, and the balance of water. The heat-insulation functional coating prepared through coating hollow glass beads with TiO2 has the advantages of large heat resistance, low conductive coefficient, high photo-thermal reflectivity, effective reduction of radiative heat transfer and convective heat transfer and heat insulation effect, and nanometer anatase titanium dioxide has photocatalysis characteristic, effectively degrades formaldehyde, and plays a great role in solving of environment pollution and energy waste. The coating integrates the respective advantages of an aqueous coating, a hydrophobic coating and a heat insulation coating, and is a green and environmentally-friendly coating.