The invention belongs to the field of chemistry, and provides a polymer-modified waterproof mortar, which comprises portland cement, graded sand, redispersible emulsion powder, water reducer, water-retaining agent, swelling agent and active filler. In the invention, the redispersible emulsion powder is used for sealing mortar pores after being formed into a film, so as to prevent water from permeating into channels and make mortar have high bonding force and flexibility. The added active filler in the invention can improve the solidity and construction performance of the mortar, and the added swelling agent can counteract part of the dry shrinkage stress of the mortar, optimize the grade of sands and improve the compactness of the mortar. The waterproof mortar, which have high-strength, can be widely used for waterproof construction in walls, toilets, basements, and other places, and has the characteristics of convenient use, wide application range, high durability, long service period and the like.