The invention discloses a tree insect prevention and antifreeze paint and a preparing method. The paint is prepared from talcum powder, micropore calcium carbonate, high viscosity attapulgite clay, polyurethane, graphene, pyrethrum, radix rehmanniae, cinnamon, golden larch bark, radix euphorbiae lantu, thunder godvine and acorus calamus. The preparing method comprises the steps that traditional Chinese medicine components are weighed and smashed, and then are placed into a Soxhlet extractor to be extracted, and an obtained extracting solution is concentrated and prepared into lyophilized powder; a polyurethane aqueous solution is added into a reaction kettle, a graphene aqueous solution is added, and a stirring reaction is conducted for 0.5-1.5 h; the talcum powder, micropore calcium carbonate and the high viscosity attapulgite clay are added, and are placed into a shearing machine to be sheared after being evenly mixed and stirred, and then the lyophilized powder is added into the mixture for ultrasonic treatment for 20-30 min, so that the paint is obtained. The tree insect prevention and antifreeze paint has a good insect prevention and sterilization effect, is long in pesticide effect, further has a good heat preservation effect, and has high application value and a good prospect.