The invention provides a coal mine underground waterproof paint, which is characterized by comprising the following components in part by weight: 13 to 27 parts of re-dispersible latex powder, 30 to 40 parts of cement, 35 to 40 parts of quartz sand, 5 to 10 parts of graphite powder, 5 to 10 parts of fly ash, 4 to 6 parts of vermiculite powder, 4 to 6 parts of expanded perlite powder, 4 to 6 parts of aluminum hydroxide, 2 to 4 parts of magnesium hydroxide, 0.003 to 0.024 part of air entraining agent, and 0.02 to 0.09 part of water reducing agent. Compared with other waterproof paint, the coal mine underground waterproof paint has the advantages of good waterproofing quality, flame resistance, antistatic property, elasticity, good cohesive property with coal, light weight, environmental protection, nontoxicity, easy construction and the like, and is suitable for coal mine underground waterproofing.