The invention discloses a non-curing rubberized asphalt waterproof paint which is composed of the following components in parts by weight: 10-15 parts of 10# asphalt, 10-25 parts of 70# asphalt, 40-50 parts of 100# asphalt, 10-15 parts of polypropylene granule, 1-2 parts of additive, 3-5 parts of modifier, 1-2 parts of stabilizer and 2-4 parts of catalyst. The paint has high solid content, can not be easily cured, and can keep favorable waterproofness. The paint has the advantages of high durability, favorable corrosion resistance, favorable high/low temperature resistance, favorable ductility, high safety, environmental protection, low combustion tendency, high binding property, favorable flexibility, high elongation percentage and wide application range, can be bounded with various substances, can be self-repaired, ensures the effectiveness of waterproofness, is simple to use and convenient to operate, can form a complete and stable waterproof layer, and can prevent water from flowing on the waterproof layer.