The invention relates to an aqueous anticorrosive modified graphene coating material, and a preparation method and an application thereof. The preparation method comprises the following steps: oxidizing natural graphite in an oxidant, modifying the surface of the obtained graphite oxide with an atom transfer radical polymerization (ATRP) initiator with different structures, adding a monomer, a high-valence catalyst, a ligand and a reducing agent to make the monomer undergo atom transfer radical polymerization (AGET ATRP) on the surface of graphene for electron transfer to generate an activator, and reducing graphene oxide (GO) by the reducing agent to obtain a water-dispersible polymer modified graphene material. The polymer modified graphene material can be used to prepare aqueous coatings, can be used to protect the surfaces of metal materials, can effectively isolate a corrosion medium from a substrate, and has excellent water, corrosion and weather resistance, and the preparation method has the advantages of simplicity, high efficiency, easy industrial production and wide application values.