The invention discloses a water-based terrace phase-change epoxy putty coating and a preparation method thereof. The water-based terrace phase-change epoxy putty coating is formed by compounding a component A, a component B and a component C; the component A comprises, by weight, 30-50 parts of a waterborne epoxy curing agent, 30-40 parts of deionized water, 0.1-0.3 part of a defoaming agent, 0.1-0.4 part of a dispersing agent, 0.2-0.6 part of a base material wetting agent, 0.8-1.2 parts of a leveling agent and 10-20 parts of a microcapsule phase change material; the component B comprises, byweight, 85-95 parts of waterborne epoxy resin and 5-15 parts of aliphatic glycidyl ether, and the aliphatic glycidyl ether meets the following requirements: (1) the viscosity at 40 DEG C is 3-7 mpa.s,and (2) the epoxy equivalent is 290-310 g / eq; and the component C comprises, by weight, 80-100 parts of 200-mesh quartz powder and 1.5-4.5 parts of a composite fiber. The addition of the microcapsulephase-change material and the composite fiber greatly improves the cracking resistance and adhesive force of the putty coating.