The invention relates to water-proof coating of cement-based polymer. The water-proof coating of cement-based polymer is consisted of the mixture of liquid A and powder B, wherein the liquid A is prepared from flexible acrylic emulsion, water, defoamer, bactericide, multi-functional auxiliary agent and thickener, and the powder B is prepared from Portland cement, ground calcium carbonate, quartz sand and water reducer. This coating is an environmental material, no pollution to the environment and has stability, good ageing resistance and long water-proof life; it is safe for application, convenient for construction and easy for operation, which can be constructed directly on the wet surface without water; it has strong binding power and the bonding strength between the material and the cement base surface can be more than 0. 5 MPa and it have good adhesive property to most of the materials. The material has good elasticity, with a percentage elongation of 200%, therefore, the material has good crack resistance, moist-proof ability and flexibility at low temperature, with nice application property, no bubble, good film forming effect and fast solidification. Besides, the material is simple in construction that coating by brush, roller or scraper is allowable.