The invention discloses a water-soluble acrylic resin which comprises functional monomers, (methyl)acrylic acid, (methyl)hydroxyalkyl acrylate, acrylamide, an initiator, a reducer and water. The waterborne resin can not become yellow, has the advantages of high outdoor weather resistance, favorable dispersity for pigment, low cost, favorable water solution resistance, favorable punching oil resistance, favorable solvent resistance, high formability, favorable heat resistance, favorable bending resistance, no odor and simple production technique, and is in the leading position in China. The water-soluble acrylic resin can be widely used for surface coating of aluminum and aluminum alloy products, and especially for coating surfaces of heat exchanger fins of air conditioners.