The invention discloses a waterborne dipping paint for engineering tracks, and a preparation method for the waterborne dipping paint, and relates to engineering track protective paints. The invention provides a waterborne dipping paint for the engineering tracks, and the volatile organic compounds (VOC) are less than 20g/L. The paint belongs to an environment-friendly coating, has low VOC content and small odor, is noninflammable and inexplosive, solves the problems that a solvent-based dipping paint and a water soluble dipping paint has harm to environment and human health, has the advantages of stable bath solution, convenience in construction, wide application range and suitability for large-scale industrial continuous production, solves various problems of sagging, edge shrinkage, bottom leakage, blur and the like of the dipping paint, and accords with the construction condition of low temperature drying or air drying. In the waterborne dipping paint for the engineering tracks, waterborne acrylic emulsion is taken as a base material, propylene glycol, a pH regulator, a dispersing agent, a wetting agent, a defoaming agent I, a defoaming agent II, an antiseptic, a film forming aid, a flashrust inhibitor, a base material wetting agent and a thickening agent are taken as aids, and carbon black and rutile type titanium dioxide are taken as pigments and fillers.