The invention discloses a water-based cooling lubricating liquid for stamping an automobile thick plate. The lubricating liquid is prepared from the following raw materials in parts by weight: naphthenic base oil, macromolecular polyester, a special nonionic emulsifier, boric acid, sebacic acid, benzotriazole, diethanol amine, triethanolamine, distilled tall oil acid ester, tetrameric ricinoleate, an ether carboxylic acid low-foam emulsifier, a hard water resisting agent, a settling agent, a defoaming agent, glycerol, potassium hydroxide, a coupling agent, a biological stabilizer and purified water. A unique emulsifying additive scientifically emulsifies and disperses high-molecular synthetic ester components, so that stable and compact lubricating effect and surface protection effect can be provided. An environment-friendly settling agent and an ionic surface active agent are adopted, it is guaranteed that metal filings generated in the stamping process are rapidly settled and removed, the metal filings cannot be adsorbed on a die to scratch the metal surface, and the water-based cooling lubricating liquid has excellent lubricating performance, anti-rust performance and settling and cleaning performance, can meet the lubricating and cooling requirements of automobile thick plate stamping, does not contain chlorinated paraffin and is good in environmental protection property.