The invention discloses an anti-rusting and anticorrosive paint for steel and iron and a preparation method thereof. Solid red lead, vinylacetylene, ethylenediamine, aluminum powder, dibutyl phthalate, acetone, anthracene oil, coal pitch, talcum powder, mica powder, iron oxide red, zinc chrome, wollastonite powder and cyclohexanone are weighed and taken; the raw materials are agitated, and then are ground, so as to prepare the anti-rusting and anticorrosive paint for the steel and the iron. The anti-rusting and anticorrosive paint for the steel and the iron has favorable bonding strength to metal of the steel, the iron and the like, adapts to cold contraction, does not fall off, does not crack, has bonding strength of 4.2MPa to 4.6MPa, viscosity of 20s to 60s, flexibility of 1mm to 3mm, adhesive force of level 1, heat resistance which does not change within 8h to 12h at 100 DEG C, shock strength of 50kg/cm to 90kg/cm, fineness of 20 to 30 microns, solid content of 40 to 60 percent and good durability, has quite good acid resistance, alkali resistance and chemical corrosion resistance, and has quite good heat resistance and mechanical properties.