The invention provides a modified asphalt waterproof coiled material which comprises an upper surface layer, a modified asphalt layer, a core layer, fiberglass gridding cloth, a self-stick layer and an isolating membrane. The asphalt layer is prepared from the following raw material components: matrix asphalt, a modifying agent, softening oil, a reinforcing agent, regenerated epoxy resin powder, an inorganic filler and elastic granules. The self-stick layer is prepared from the following raw material components: matrix asphalt, a modifying agent, SBR rubber, SIS thermoplastic rubber, regenerated epoxy resin powder, elastic granules, rubber oil, tackifying resin and talcum powder. The waterproof coiled material provided by the invention is low in cost, less in energy consumption, good in mechanical performance and free of fire risk.