The invention relates to a protecting paint special for petroleum pipe/drill pipe, and a construction method and a preparation method thereof. The paint is composed of modified acrylic resin and modified alkyd resin as main film-forming substances, formaldehyde resin, chlorinated polyether resin and epoxy resin, etc. as modifiers, nontoxic tinting pigment, nanometer micro powder, environment-friendly solvent, nontoxic excluder pigment, additive, accessory ingredient, etc.; the paint is provided with the following advantages: low cost, good storage stability, not prone to deposit, good application property, strong anti-sagging property, coat flame retarding, good drying and fullness, strong adhesion, weathering resistance, rust prevention, non-toxicity and environment-friendly. The protecting paint special for petroleum pipe/drill pipe is specially designed for short-term antiseptic coat, such as sleeve of petroleum casing pipe, oil well pipe, oil well drill pipe, etc.