The invention discloses a high-performance architectural reflective thermal insulation coating. 100 parts of the high-performance architectural reflective thermal insulation coating comprise following raw materials, by weight, 40 to 50 parts of a film forming agent, 15 to 25 parts of rutile titanium dioxide, 5 to 15 parts of a functional filling material, 5 to 15 parts of an infrared radiation powder, 5 to 10 parts of kaolin, 5 to 10 parts of talc, 0.2 to 0.5 part of an antifoaming agent, 0.2 to 0.4 part of a wetting agent, 0.2 to 0.4 part of a dispersant, 0.3 to 0.6 part of a thickening agent, 1 to 3 parts of a film forming auxiliary agent, and the balance deionized water. The infrared radiation powder is an ultrafine powder with high radiancy, and is prepared via high-temperature sintering of a plurality of metal oxides. The novel water-based thermal insulation coating is prepared via combination of traditional thermal insulation effects of hollow microspheres, and is suitable for applications in the field of thermal insulation of new building outer walls and improvement of existing buildings; and high radiancy and high radiation play a major role, and traditional thermal insulation effect plays a minor role in thermal insulation.