The invention discloses water-based inkjet ink and a preparation method thereof. The ink is prepared from, deionized water, polyethylene glycol 200, a pigment, ethylene glycol dimethacrylate, ethyl methacrylate, neopentyl glycol diacrylate, lauryl alcohol polyoxyethylene, triethanolamine, polyoxyethylene polyoxypropylene pentaerythritol ether, ethylene bis stearamide, 4-[(4,6-bis(octylthio)-1,3,5-triazine-2-yl) amino]-2,6-ditert-butyl phenol, octyl methoxycinnamate, titanium dioxide and the like. The water-based inkjet ink has the advantages that the water-based inkjet ink meets the requirements of environmental protection, printing pollution is greatly reduced, the octyl methoxycinnamate and the titanium dioxide are added into the ink and are combined to form a protective film for ultraviolet light blocking on the dye surface layer of the ink, so that the ink does not fade under the outdoor light exposure, is resistant to scratching and is not easily oxidized, and output performed by using the ink does not need printing materials with special coatings.