The invention discloses a thermal barrier coating with the abrasion resisting function. Compared with a traditional thermal barrier coating, carbon powder is added, and is sintered and modified at the high temperature, and the porosity of a ceramic phase can be increased. In the spraying process, part of particles are not smelted sufficiently in plasma jet flow, when a base body is subjected to the impact, the deformation degree is slightly weak, porous structures in lap joint together are easily formed, and the thermal insulation performance of the coating is obviously improved. In addition, by means of the modification method, Zr4+ is replaced by Y3+ and Ce4+ in a zirconium dioxide crystal lattice and the oxygen vacancy and the local stress field are generated. The phonon scattering in the crystal lattice is increased, and the thermal conductivity is obviously reduced. The atomic weight of the solid solution atom Ce is far larger than that of Y, the scattering strength of phonons in the coating can be obviously improved, and therefore the thermal conductivity is reduced. The thermal barrier coating is simple in preparing technology. The prepared coating has the beneficial effects of being high in porosity, resistant to abrasion, low in water absorbing rate, good in tenacity, not prone to cracking or layering and the like.