The invention discloses a washable hot melt adhesive and application thereof. The hot melt adhesive is composed of the following raw materials by mass percentage: 30-80% of high-acid value resin; 0-40% of a plasticizer; 10-40% of a thermoplastic high polymer; and 0-1% of an antioxidant. The hot melt adhesive provided by the invention selects high-acid value resin as the tackifier, which contains carboxyl or hydroxyl and other hydrophilic functional groups, and can rapidly react with alkaline water so as to destroy the structure of the hot melt adhesive and lower the stripping force of the hot melt adhesive. The hot melt adhesive is partially dissolved and dispersed into small solid particles so as to completely break away from an adherend, thus being easily removed from the surfaces of PET, PP, PE, glass, ceramics, metals, leather, wood, paper products, plastic products, textile products or others. The washable hot melt adhesive provided by the invention has the bonding performance of conventional hot melt adhesives, and has the advantages of strong initial adhesion, environmental protection and safety, the preparation process is simple, the requirements for the process and equipment are low, the production efficiency is high, and the production cost is low.