The invention discloses a wear-resistant, heat insulation and waterproof building coating. The wear-resistant, heat insulation and waterproof building coating is characterized by being prepared from the following raw materials in parts by weight: 33-36 parts of water-soluble alkyd resin, 33-36 parts of an organic silicone resin emulsion, 1-2 parts of 1, 2-benzisothiazolin-3-one, 0.4-0.8 part of hydroxyethyl cellulose, 1-2 parts of sodium aluminosilicate, 1-3 parts of tert-butyl methacrylate, 0.5-1.0 part of fumed silica powder, 2-3 parts of silicon carbide powder, 1-3 parts of clay, 1-2 parts of dibutyl phthalate, 0.3-0.4 part of an organic silicon defoamer, 0.3-0.6 part of polyoxyethylene lauryl ether, 2-3 parts of diatomite, 2-4 parts of propanediol butyl ether, 7-9 parts of heat insulation slurry and 13-18 parts of deionized water. The coating disclosed by the invention is fast in drying, high in hardness of a paint film after curing, smooth, good in color and luster, very high in adhesion and good in wear resistance; the deionized water is adopted as a thinner, thereby having low cost and low toxicity and being green and environment-friendly; the added heat insulation slurry has an excellent heat insulation effect; and furthermore, the coating has excellent corrosion resistance, aging resistance and water resistance, is convenient to construct and is harmless to human bodies.