The invention relates to a special-effect reflective coating and a preparation method thereof. The special-effect reflective coating comprises the following components in parts by weight: 20-40 partsof reflective powder, 2-4 parts of a dispersing agent, 19-27 parts of a solvent, 31-37 parts of cellulose resin, 18-24 parts of acrylic resin, 0.4-0.8 part of a leveling agent and 0.8-1.3 parts of ananti-settling agent. The reflective powder with relatively large particle size is mainly adopted, the prepared reflective coating is strong in reflective effect, good in covering power, convenient toconstruct and suitable for different substrates, can be independently used, can also be added into a color masterbatch for mixing and color mixing, generates an obvious reflective effect when lamplight irradiates the surface of a reflective paint part at night, and plays a role in safety prompt. The reflective coating can be widely applied to reflective coating of automobile parts, road engineering, traffic signboards, outdoor advertisement signboards, highway toll stations, underground parking lots and the like.