Abstract: The preparation of water-based materials is one of an effective method to eliminate the volatile organic compounds (VOC) in solvent-based coatings. Corrosion resistance of the present waterborne coatings is much worse than the solvent-based products. The corrosion resistant emulsion was prepared by using the glycol, isocyanate, and epoxy resin as the main raw materials. The chemical structure, heat resistance, and corrosion resistance of the emulsion and the corresponding coatings were characterized. Other basic performance were tested. Results show that the prepared emulsion molecules were subjected to the preset reaction. The molecular weight of glycol could affect the corrosion resistance of the product. When the molecular weight is 4 000, the corrosion resistance of the product is optimal. The optimum ratio is reached when the mass ratio of emulsion to curing agent is 8:1. Salt spray test of the coatings is longer than 1 100 hours and the other properties of the coatings are also good.