The invention discloses emulsion paint which is formed by mixing an organic solvent, water, inorganic pigment, filling material, adjuvant and the like and comprises the following components by weight percent: 20%-35% of diatom ooze, 8% of dry film midewproof agent, 1%-3% of dispersing agent, 0.5% of wetting agent, 0.3% of defoaming agent, 0.2% of wetting agent, 10%-15% of isopropanol, 5%-8% of zinc white, 2.5%-3.8% of adhesive and the balance of water. The preparation process of the diatom ooze emulsion paint is as follows: pouring water in a container and starting to stir; successively adding organic solvent, inorganic pigment, filling material and adjuvant in the process of stirring, then heating and fully and evenly stirring; and when the mixture is heated to 60 DEG C, adding the diatom ooze and then continuously stirring for 20 minutes, and then adding the adhesive to stir until all the materials are fully mixed. The effect is as follows: the diatom ooze emulsion paint is capable of clearing peculiar smell, maintaining air fresh, humidifying air, self-cleaning wall surface and preventing inflaming, is soft in color and is has small possibility of generating eyestrain, thereby reducing myopia rate.