The invention discloses a heat-resisting waterproof wallpaper. The heat-resisting waterproof wallpaper comprises a base material layer, a waterproof layer and a heat-resisting layer, wherein the heat-resisting layer is made of waterborne silicon-acrylate resin, hydroxyl-polyacrylate emulsion, cellulose acetate butyrate solution, amino resin, iron oxide red, iron oxide yellow, pearl powder, lauryl mercaptan, dimethylethanolamine, thiethylamine, triethanolamine, 2-amino-2-methylpropanol, ammonium hydroxide, acrylic glycidyl ether, ethylene glycol monobutyl ether, waterborne aluminum powder, charcoal powder, talcum powder, sodium bicarbonate, glass fiber, vermiculite powder, perlite powder, EVA (ethylene-vinyl acetate copolymer) wax, polyethylene wax, nano titanium dioxide, waterborne polyisocyanate curing agent, wetting agent, magnesium stearate, polyoxypropylene glycerol ether, carboxymethyl cellulose and anti-setting agent. The invention also discloses a preparation method of the heat-resisting waterproof wallpaper. The prepared heat-resisting waterproof wallpaper is excellent in heat-resisting and waterproof performance.