The invention discloses a special rust resisting paint for farm implements and a preparation method thereof. The special rust resisting paint is prepared from the following raw materials in parts by weight: silicone modified acrylate emulsion 48-55 parts, methacrylate 10-15 parts, phenolic resin 30-40 parts, ethyl formate 5-15 parts, chlorinated paraffin 6-7 parts, sodium carboxymethyl cellulose 3-4 parts, antioxidant 1010 2-4 parts, attapulgus clay powder 30-45 parts, aluminum stearate 10-12 parts, sodium nitrite 4-6 parts, nano silica 20-25 parts, dimethyl silicon oil 4-5 parts, aluminium triphosphate 2-4 parts, and ethylene glycol 120-150 parts. The rust resisting paint of the invention has the following advantages: the formulation is scientific and reasonable, the paint is environment-friendly, the raw materials are cheap, and the preparation process is simple. Also, the paint is resistant to salt fog, saline water, acid and alkali, water and oil, has distinct and long-term anti-rust effect on farm implements, and effectively avoids recurrent rusting damage of farm implements.