The invention discloses pasty fiber paint and a preparation method thereof. The pasty fiber paint is prepared from latex, pigment, a filler, antifoaming agents, an anticorrosion agent, a PH regulator, thickeners, a disperser, a film forming auxiliary agent, a flux, fibers and water which are mixed. The preparation method comprises the following steps of: A. mixing and stirring the flux, the disperser, an antifoaming agent 1, the anticorrosion agent and the PH regulator and 80 percent of the water, adding the pigment and the filler into the mixed material during the stirring process, and then carrying out dispersing and grinding at a rotation speed of between 1, 500 and 3, 500rpm to obtain slurry material; B. adding the latex and the film forming auxiliary agent in turn into the slurry material, adding a thickener 1 and a thickener 2 after even agitation, and regulating viscosity to between 115 and 120KU to obtain a paint material; and C adding the fibers into the paint material, adding an antifoaming agent 2 and the rest 20 percent of the water after even agitation, defoaming, and obtaining the product. The pasty fiber paint which is used for interior wall decorating and painting solves the problems that: an elastic hacking film has poor resistance to stain and a rigid hacking film is easy to crack and causes water seepage.