The invention relates to a composite nanometer oxide latex for paints, a water paint containing the latex and a preparation method of the water paint. The latex consists of a monomer mixture, an emulsifier, a film-forming additive, an initiator, sodium bicarbonate, a pH regulator, an antifoamer, deionized water and nanometer oxide slurry, wherein the nanometer oxide slurry is prepared by firstly dispersing a nanometer oxide, a surfactant and water in a dispersion machine and then sand grinding dispersion in sand grinder; the nanometer oxide is one or two or three of Al2O3, ZnO and TiO2; and the monomer mixture consists of methyl acrylate, methyl methacrylate, diacetone-acryloamide and butyl acrylate. In the synthesis process of the latex of the invention, the nanometer oxide slurry is added, so that nanometer particles can be uniformly and stably combined with synthesized macromolecules to show the functionality of a nanometer material and to realize the excellent hardness, wear resistance and soiling resistance of the water paint containing the composite nanometer oxide latex for paints.