The invention discloses a preparation method of a flame-retardant composite over-rust antirust paint, belonging to the technical field of antirust paint preparation. The preparation method comprises the following steps: drying and pulverizing tung seeds and Maofeng, mixing with lime water to regulate the pH value, standing, filtering, airing the filter residue, adding distilled water, grinding into slurry, heating to keep the temperature under ultrasonic actions, mixing with n-hexane, filtering to obtain the filtrate while keeping the temperature, stirring and mixing with hectorite, talcum powder and the like, adding zinc oxide, keeping the temperature, respectively adding polyurethane, iron oxide and barium sulfate, stirring and mixing, and keeping the pressure, thereby obtaining the flame-retardant composite over-rust antirust paint. The method has the advantage of simple preparation steps. The obtained product has the advantages of favorable adhesive force, favorable uniformity and compactness, favorable flowability, high shock strength (greater than 50kg.cm) and high hydrolysis resistance. After being immersed in water for 140-145 hours, the paint film does not shed or discolor, and does not generate the bubble phenomenon; the water resistance, alkali resistance, rust resistance and flame retardancy are effectively enhanced; and the paint film can resist the high temperature of 130 DEG C for 6080-7100 hours.