The invention provides a formulation and the method for preparation of a green environment-friendly water-based epoxy terrace-using coating. The green environment-friendly water-based epoxy terrace-using coating comprises the first and the second component, the constituent and weight ratio of the first component being as the following: water-based epoxy curing agent 28-32, water 10-20, defoamer 0.2-0.5, wetting agent 0.2-0.5, leveling agent 0.2-0.5, consolute agent 1-5, phthalocyanine green 3-6, ferrite yellow 4-6, titanium dioxide 1-3, blanc fixe 20-30, silicon micronized quartz powder 10-15, and talcum powder 5-8; and the constituent and weight ratio of the second component being: water-based epoxy emulsion A 15-25, water-based epoxy emulsion B 20-28, and water 1-6. The first component: the second component is 1.25: 1, homogeneously mixing them. The prepared green environment-friendly water-based epoxy terrace-using coating can ensure the lacquer film having good brightness, adhesive force, strong chemical resistance, nice environmental protection property, and low containing of VOC.