The invention relates to the technical field of waterproof adhesives, in particular to a preparation method of a waterproof adhesive, which comprises the following components: epoxy resin, an epoxy resin curing agent, an emulsifier, a pH value regulator, an anti-mildew antibacterial agent, an anti-aging agent, an anti-freezing agent, a plasticizer, a defoaming agent and a dispersing agent. The nano-silver, nano-salt and graphene are adopted to achieve mildew-proof and antibacterial effects, the problem that mildew and bacterium breeding are prone to occurring in water or a humid environment after use is solved, use sanitation and bonding performance are effectively guaranteed, calcium lignosulphonate and ethylene glycol are matched to achieve an anti-freezing effect, the problem that use is affected by freezing in a low-temperature environment is avoided, the bentonite, the silica powder and the silica wax are matched to achieve a waterproof effect, and the overall waterproof performance is effectively improved.