The invention discloses novel water-based electrospark wire-electrode cutting liquid. The cutting liquid is mainly composed of, by mass, 14% to 18% of surface active agents, 1.4% to 2% of antirust agents, 8% to 12% of blasting agents, 1.5% to 2.5% of electrolyte, 0.8% to 2% of other additives and the balance deionized water. The novel water-based electrospark wire-electrode cutting liquid is reasonable in component preparation, low in preparation cost, free of poisonous substance and environmentally friendly, has the good rust prevention performance, the good insulating performance, the good rapid ionization performance, the good washing performance, the good cooling performance and other good performance, and is particularly suitable for iron board cutting, copper board cutting and aluminum board cutting.