The invention relates to a sound-absorbing radiation protective paint, which comprises the following components in percentage by weight: 30 to 38 percent of porous modified starch, 5.0 to 9.5 percent of styrene-acrylic latex emulsion, 33 to 41 percent of barite, 0.5 to 1 percent of iron oxide, 0.25 to 1 percent of sodium polycarboxylate dispersant, 0.01 to 1 percent of brightening agent, 1.0 to 6 percent of titanium white, 0.5 to 1 percent of defoamer, 0.01 to 1 percent of mildew preventive, 13 to 18 percent of water, 0.4 to 1 percent of ethylene glycol, 0.3 to 1 percent of film-forming auxiliary agent, 0.005 to 1 percent of anti-freeze agent, 0.5 to 1 percent of graphite, 1 to 3 percent of hydroxyethyl cellulose and 0.20 to 1 percent of thickening agent. A preparation method of the sound-absorbing radiation protective paint comprises the steps of: (a) premixing, namely stirring 1/2 water, the sodium polycarboxylate dispersant, 1/2 defoamer, the mildew preventive, the thickening agent, the hydroxyethyl cellulose and the brightening agent at low speed to form colloidal solution; (b) dispersing and grinding, namely adding the titanium white, the barite, the graphite and the iron oxide into the colloidal solution and stirring the solution at high speed to prepare uniform sizing agent; (c) paint mixing, namely adding crylic acid emulsion, the film-forming auxiliary agent and the anti-freeze agent into the sizing agent, uniformly stirring the sizing agent, then dividing the porous modified starch into 1 to 5 parts, and adding the porous modified starch by 1 to 5 times into the mixture for low-speed and uniformly stirring the mixture; and (d) packaging the resulting product.