The invention relates to a waterborne epoxy graphene low-zinc antirust primer. The waterborne epoxy graphene low-zinc antirust primer comprises a component A and a component B, wherein the component Ais composed of a waterborne epoxy curing agent, zinc powder, ferrophosphorus powder, a block copolymer dispersant, MMP, a graphene dispersion and an auxiliary agent; the component B is waterborne epoxy resin; the graphene dispersion is composed of MMP, ethanol, graphene, a block copolymer dispersant, etc.; and the block coplymer dispersant is prepared from itaconic acid, vinylbenzenesulfinic acidsodium salt, methacryloyloxy alkylol phosphomonoester, a RAFT reagent and an initiator through a reaction. The waterborne epoxy graphene low-zinc primer prepared by using the preparation method provided by the invention has excellent adhesion force, flash-rust resistance, corrosion resistance, oil resistance, water resistance, salt fog resistance and storage stability, is a low-VOC, low-zinc, environment-friendly and anticorrosive coating, and is extensively used as an anticorrosive primer for a steel structure in chemical atmosphere and marine environments and used as a primer for rust prevention and corrosion prevention of bridges, storage tanks, containers, ships, steel structure facilities and the like and for protection of steel plates in workshops.