The invention belongs to the field of coating, and provides a corrosion-resistant thermosetting powder coating, and a preparation method thereof. The corrosion-resistant thermosetting powder coating mainly comprises, by weight, 30 to 50 parts of epoxy resin, 3 to 8 parts of a curing agent, 8 to 12 parts of polyester resin, 2 to 5 parts of a surface accessory ingredient, 3 to 8 parts of phenolic resin, 10 to 20 parts of barium sulfate, 1 to 3 parts of a pigment, 3 to 8 parts of aluminum powder, 3 to 6 parts of carbon powder, and 1.2 to 1.8 parts of a light stabilizing agent. The corrosion-resistant thermosetting powder coating possesses thermal oxidation resistance and photooxidation resistance at the same time, and excellent corrosion resistance, weather resistance, ultraviolet optical rotation resistance, aging resistance, and stability; color preserving capacity lasts for a long term; no pulverization, crazing, or peeling is caused after long term of ultraviolet irradiation; problems of conventional powder coating that weather resistance and ultraviolet optical rotation resistance are poor, adhesive force is easily reduced, pulverization, crazing, and peeling are easily caused; and powder coating service life is prolonged.