Disclosed herein are an anti-counterfeiting film and a process for preparation thereof. The anti-counterfeiting film comprises a protective layer (1), a binder layer (2), a retroreflective layer (3), a photopolymerizable information layer (4) and a reflective layer (5) which are combined in turn. The retroreflective layer (3) is embedded spherically in the binder layer (2), and the photopolymerizable information layer (4) has been recorded with graphics information which can change along with the viewing angle.