The invention discloses a penetrable regeneration paint for an asphalt pavement and a preparation method of the penetrable regeneration paint, which belong to the technical field of preparation of a preventative maintenance material for the asphalt pavement. The regeneration paint is a liquid mixture at normal temperature and particularly comprises the following components in part by weight: 30 to 50 parts of film forming resin, 3 to 9 parts of penetrant, 2 to 8 percent of asphalt rejuvenate agent, 30 to 50 parts of solvent and 10 to 20 parts of coal tar. The penetrable regeneration paint forthe asphalt pavement, which is prepared by the preparation method, can strongly permeate through the asphalt pavement to deeply reduce aged asphalt so as to form a novel protective layer without carrying out mixture overlaying on the original pavement, and the using function of the pavement is recovered only by recovering the activity of the aged asphalt; meanwhile, a sealing film is formed on the asphalt pavement so as to prevent water, gasoline, chemicla and the like from invading into the asphalt pavement. When being adopted to recover the using function of the pavement, the penetrable regeneration paint for the asphalt pavement has the advantages that the penetrable regeneration paint is simple to construct and has short time of closing traffic and good waterproof performance; and thepavement friction coefficient is not reduced or reduced little.