The invention relates to water-soluble paint, specifically provides a water-soluble paint for a railway export wagon, and aims at solving the problem that the current water-soluble paint does not meet the requirement of export wagons. The water-soluble paint is prepared by mixing a component A and a component B based on the ratio of 4: 1, wherein the component A comprises the following raw materials in parts by weight: 60 parts of waterborne acrylic modified polyurethane resin, 0.5 part of dispersing agent, 0.35 part of wetting agent, 0.15 part of defoamer, 0.1 part of neutralizer, 15 parts of titanium dioxide pigment, 12 parts of talcum powder, 0.2 part of thickening agent, 10 parts of rust preventing agent, and 1.7 parts of water; the component B serving as a crosslinking curing agent is water-based isocyanate. According to the water-soluble paint, all the performances meet or exceed the current standard on oil paint for export wagons; the water-soluble paint can be applied to the other fields, besides railway export wagon.