The invention discloses a preparation method of a wear-resistant, heat-insulation and corrosion-resistant powder coating. The powder coating is prepared from the following raw materials: benzoxazine resin, epoxy resin, chlorinated polyether, carboxylated-terminated acrylonitrile-polybutadiene rubber, a curing agent, barite powder and wollastonite powder. The wear-resistant, heat-insulation and corrosion-resistant powder coating can be prepared by processes such as melting, mixing and extruding, cooling for tabletting, crushing and sieving and has excellent wear and corrosion resistance and heat insulation properties, the surface of a processed coating meets the national and industrial standards on the aspects such as adhesive force, flexibility, impact strength, smoothness, hardness and chemical resistance, and the wear-resistant, heat-insulation and corrosion-resistant powder coating is low in curing temperature, convenient to use and capable of reducing the cost.