The invention discloses a rebar corrosion resistant coating, and raw material comprises the following components: 45-70 parts of glass powder, 2-8 parts of clay, 26-50 parts of borax, 0.5-3 parts of fiber, 5-15 parts of opacifier, 1-10 parts of adherence agent and 0.25-2.8 parts of electrolyte. The invention further discloses a rebar corrosion resistant coating coating method, comprising the following step of: 1) dry mixing; 2) wet mixing; 3) pre-treating; 4) coating; 5) drying; 6) sintering; and 7) cooling at room temperature. The rebar corrosion resistant coating is high in ductility, high in adhesion performance, high in compactness and excellent in corrosion resistance, the fiber is introduced into the coating so that the corrosion resistant coating, during the breaking process, absorbs energy through mechanisms such as crack deflection, fiber breakage and fiber and removal, so that the coating toughness is improved, the cracking formation is delayed, and the mechanical property of the rebar can be maintained at the same time.