Disclosed herein are an anti-counterfeiting film and process for preparation thereof. The anti-counterfeiting film comprises a directional retroreflective layer (1), an optical-angle-based color-changing information layer (2), a reflective layer (3) and a support layer (4) which are combined in this turn. The support layer (4) is made of a polymer resin material, the reflective layer (3) is made of a material with high reflectivity and has a thickness of nanoscale, the information layer (2) is made of an optical-angle-based color-changing chiral polymer material having a helical structure or made of an optical-angle-based color-changing cellulose material. The optical-angle-based color-changing chiral polymer material having a helical structure is a condensation product of a chiral compound and a compound with functional group. The optical-angle-based color-changing cellulose material is composed of a cellulose derivative and a polymerisable monomer. The directional retroreflective layer (1) is composed of spheres which are made of optical material, and is spherically embedded in the support layer (4), wherein the refractive index of the material for the directional retroreflective layer (1) is 1.9-1.93.