The invention discloses water-based flame-retardant damping paint, and belongs to the technical field of paint. A preparation method of the water-based flame-retardant damping paint comprises the steps of preparing mixed powder by taking mica, bentonite and the like as raw materials, performing mixed dispersion with water and cetyl trimethyl ammonium bromide to obtain a suspension, performing centrifugal separation with castor oil and dimethyl carbinol, collecting a precipitate, performing drying to obtain a damping filler, adding the damping filler to epoxy resin, grafting an acrylic acid monomer, performing rotary evaporation to obtain a damping filler modified resin emulsion, preparing modified guar gum by taking guar gum as a raw material, mixing the water, ethylene glycol monophenyl ether, a defoaming agent and the like, adding ground calcium carbonate, expanded graphite and the like, performing grinding to obtain slurry, mixing the slurry with the damping filler modified resin emulsion, the modified guar gum and the like, and performing discharge to obtain the water-based flame-retardant damping paint. The prepared damping paint has the advantages of good low-temperature damping performance, wide damping temperature range and good flame retardance, is moderate in drying time and better in workability, and has a wide application prospect.