The present invention relates to a pigment paint for an exterior material, and to a method for manufacturing same. The pigment paint comprises: a flake substrate, a first metal oxide layer coated on the upper portion of the transparent substrate, an oxide layer containing MgO-SiO2 coated on the upper portion of the first metal oxide layer, and a second metal oxide layer coated on the upper portion of the oxide layer. In order to ensure humidity resistance and weather resistance required for a lustrous pigment paint for the exterior material, a cerium layer and an aluminum oxide layer are further coated. Properties such as high luminance, high chromaticity, and high gloss, which could not be achieved using conventional techniques, can be achieved and a pigment paint having a multiply-colored pearl luster can be provided.