The invention relates to thin fire-resistant/flame-retardant paint for a tunnel and a preparation method thereof. The paint is prepared from the following raw materials in percentage by weight: 40-50% of silicate cement, 5-10% of high-alumina cement, 1-5% of fly ash, 1-5% of redispersible rubber powder, 1-5% of aluminum silicate fiber, 5-10% of expanded perlite, 5-10% of vermiculite, 5-10% of hollow glass microsphere, 5-10% of vitrified microsphere, 1-5% of sepiolite, 1-5% of modified aluminum hydroxide flame retardant, 1-5% of modified magnesium hydroxide flame retardant, 1-5% of expandable graphite flame retardant, 0.5-1% of air entraining agent, 0.5-1% of water reducing agent, 0.5-1% of water repelling agent and 0.5-1% of defoaming agent. The paint provided by the invention has excellent bonding strength, high fire resistance, low heat conductivity and remarkable sound absorption and noise reduction effect, further has favorable moisture resistance, water resistance and durability, and effectively reduces the coating thickness, saves the resources and lowers the construction difficulty on the premise of meeting Chinese standards and related specifications.