The invention provides a preparation method and application of a water-soluble hydrophobic-oilphobic modification material. The material is manly prepared by hybridizing hydrophobic-oilphobic components and colloidal network, specific components mainly include a solvent, the hydrophobic-oilphobic components, a network body and a modifier; and mixing and reaction on solutions can be carried out soas to obtain the stable water-soluble hydrophobic-oilphobic modification material. The preparation method of the water-soluble hydrophobic-oilphobic modification material disclosed by the invention has the advantages of simple process, low cost, strong adaptability and the like, raw materials are environmentally friendly and a human body is healthy and has no toxicity; and meanwhile, the preparedwater-soluble hydrophobic-oilphobic modification material can be mixed with the water in any proportions to obtain a mixture; and the mixture is added in the raw materials such as latex paint and finish-coat paint, so that the material has the properties, including hydrophobic property, oleophobic property, high strength, scrub resistance, stain resistance and the like, and can be applied to the fields of waterborne coatings for buildings, surface protection, oil-water separation, clothing decoration, outer-layer protection of electronic products and the like.