The invention provides nano water-based paint imitating an electroplated coating and a preparation method. The nano water-based paint is prepared from slurry A, slurry B, polyurethane emulsion and vinyl acetate-acrylic emulsion through uniform ultrasonic dispersion. The slurry A is prepared by uniformly dispersing aluminum tripolyphosphate, metal powder, silicon resin, a dispersing agent and deionized water; and the slurry B is prepared by uniformly grinding silica sol, silicone powder, toner, a dispersing agent and deionized water. When the nano water-based paint of the imitation electroplating coating is used for metal, wood products, plastic and the like, a uniform compact coating similar to electroplating can be formed, traditional electroplating can be replaced after paint spraying, the brightness is good, the adhesive force is good, the leveling property is good, the excellent imitation electroplating effect is achieved, and the nano water-based paint of the imitation electroplating coating is suitable for being used in the fields of automobiles, electronic appliances and the like.