The invention discloses a method for preparing a coating on a cutting blade, and relates to a cutting blade. The method comprises the following steps: (1) selecting a cutting blade substrate; (2) coating a TiN layer on the cutting blade substrate; (3) coating a TiCxNy layer, wherein x is more than or equal to 0, y is more than or equal to 0, and (x+y)=1; (4) depositing an M1M2CxNyOz transition layer, wherein x is more than or equal 0, y is more than or equal to 0, z is more than or equal to 0, (x+y+z)=1, M1 is one of titanium, aluminum, zirconium, hafnium, boron, silicon and the like, and M2 is one of titanium, aluminum, zirconium, hafnium, boron, silicon and the like; (5) depositing an alpha-Al2O3 layer; (6) depositing a ZrN layer; (7) depositing a TiN layer on the top; (8) removing a covering layer outside the front blade surface of the blade. The prepared coating is a coating having decorating and indicating functions for the cutting blade, and can be produced relatively easily at lower cost by adopting a CVD (Chemical Vapor Deposition) method.