The invention discloses water-based intumescent fireproof coating for an indoor steel structure and a preparation method thereof, belongs to the field of water-based fireproof coating, and solves the problems that traditional fireproof coating is poor in adhesive force, and moisture resistance, water resistance and flame retardance are difficult to consider at the same time. The coating comprises a film-forming emulsion, a dispersing agent, a thickening agent, potassium methyl silicate modified pentaerythritol, melamine, ammonium polyphosphate, aluminum hydroxide, glass fibers, a wetting agent, a defoaming agent, pigment and distilled water. The preparation method comprises the following steps: adding the dispersing agent, the wetting agent and the defoaming agent into distilled water and stirring; adding the glass fibers and stirring; adding the aluminum hydroxide and pigment and stirring; adding the ammonium polyphosphate, the potassium methyl silicate modified pentaerythritol and the melamine, and stirring; adding the film-forming emulsion and stirring; adding the thickening agent to adjust the viscosity. The coating disclosed by the invention has good adhesive force and excellent water resistance and moisture resistance, the coating is free from layering, foaming and falling off after being resistant to water, the heat insulation efficiency attenuation is less than or equal to 35%, and the fire-resistant time is more than 120 minutes.