The invention discloses a heat reflecting paint, and a preparation method and an application thereof. The heat reflecting paint comprises the following components in parts by weight: 100 parts of fluorine-containing (methyl) acrylate polymer emulsion, 2-30 parts of reflecting pigment, 0.1-4 parts of filler, 2-40 parts of flatting agent, 1-20 parts of coalescing agent, 0.01-1 part of thickening agent, 0.01-2 parts of dispersant, 0.001-1 part of wetting agent, 0.1-60 parts of distilled water and 0.5-5 parts of cross-linking agent. The heat reflecting paint provided by the invention is high in heat reflection performance, and excellent in acid and alkali resistance, weather fastness and stain resistance. The heat reflecting paint provided by the invention is applied to a bituminous pavement; the heat reflecting paint is capable of relieving the urban heat island effect by reducing the road surface temperature, and reducing the environmental pollution generated in the use process of the coating, and also capable of improving the stain resistance of the coating and ensuring persistent cooling effect of the heat reflecting coating.