The invention discloses kaolin-modified mildew-resistant paperboard paint and a preparation method thereof. The preparation method comprises 1, putting Chinese herbal medicines into water and carrying out decoction to obtain Chinese herbal medicine extract, 2, under UV, carrying out activation treatment on kaolin, plant ash, sodium chloroplatinate and molybdenum disulfide to obtain an activator, 3, under acidic conditions, mixing the activator and amino acids and carrying out modification treatment to obtain a modified activator, 4, making an acrylic acid emulsion, polystyrene, dioctyl phthalate, alumina, boron nitride and sodium nitrite contact so the materials react, adding an emulsifier, the modified activator and the Chinese herbal medicine extract into the reaction product and carrying out mixing to obtain the kaolin-modified mildew-resistant paperboard paint. The Chinese herbal medicines comprise folium artemisiae argyi, Chinese yam, borneol, honeysuckle stem, ligusticum wallichii, ricepaperplant pith medulla tetrapanacis, radix angelicae sinensis, root of kudzu vine, trichosanthes bark and coptis root. The paint can be stably attached to the surface of a carton main body and has excellent waterproof and antibacterial performances.