The invention discloses an aqueous boron nitride coating capable of binding at a low temperature and being used at a high temperature. The coating is prepared from 15-60 wt% of hexagonal boron nitride, 2-15 wt% of a composite high temperature binder, 1 wt% of carboxymethyl cellulose, 0.5 wt% of a thickener, 1 wt% of cobalt aluminate, 0.2 wt% of isooctanol, and the balance is demineralized water. Apreparation method of the coating comprises the following steps: mixing and stirring carboxymethyl cellulose used as a dispersant, the high-temperature binder, the thickener, cobalt aluminate used asa high-temperature pigment and demineralized water at a normal temperature to form a uniform solution, adding the hexagonal boron nitride and isooctanol used as a defoamer to the solution, and performing stirring until a uniform system is formed. The coating adopts an aqueous system, has no harmful substance volatilization during use, is clean and environmentally friendly, has good adhesion, anddoes not crack or spall in order to effectively block direct contact between a metal melt and the surface of a refractory material. Additionally, the coating has excellent stability and suspension capacity, and the stability and the suspension capacity do not change under high dilution.