The invention provides a method for preparing water-based crylic acid resin by a continuous extruding process and production equipment for realizing the method. The method is characterized in that anannular pipe type reactor and a twin-screw extrusion reactor are connected in series to be used as a continuous reactor; firstly, monomers, initiating agents and optional molecular weight modifiers are sucked into a mixed raw material preparation tank from each raw material barrel under the negative pressure; then, the materials in the preparation tank are conveyed to the annular pipe type reactorwith the temperature being 120 DEG C by a material conveying pump at the speed of 50 to 150kg/h; the detention time of the materials in the annular pipe type reactor is 15 minutes; after the materials enter the twin-screw extrusion reactor, the screw rotating speed is controlled to be 20 to 50 turns/min; a devolatilization section valve is opened so that the materials are subjected to vacuum devolatilization at the third stage; the product after devolatilization is subjected to underwater pelleting and drying at the temperature being 30 DEG C or below, and then passes through a cyclone separator; next, packaging is performed. The crylic acid resin prepared by the method has the characteristics that the quality stability is good; the molecular weight is great; the distribution is narrow. The invention also provides the production equipment for realizing the method.