The invention discloses hydrophobic and anti-icing emulsified asphalt and a preparation method thereof. The hydrophobic and anti-icing emulsified asphalt is composed of matrix asphalt, a soap liquid, a hydrophobing agent, an interface agent, waterborne epoxy resin and a curing agent, wherein the hydrophobing agent is a polyfluoroalkoxy or a fluorinated ethylene propylene copolymer with the fineness of 625-1250mu. The hydrophobic and anti-icing emulsified asphalt disclosed by the invention is relatively good in adhesion to various aggregates and capable of adapting to relatively disadvantage interface conditions and still keeping good hydrophobicity after being permeated into a gap of an asphalt pavement and the insides of the surfaces of the aggregates and being acted by a vehicle load for a relatively long term. The hydrophobic and anti-icing emulsified asphalt id directly spread or is mixed and spread with the aggregates to form a hydrophobic and anti-icing layer by which the adhesive force of an ice layer and the asphalt pavement can be remarkably reduced, so that the ice layer of the asphalt pavement in winter is easily eliminated. A construction technology of the hydrophobic and anti-icing emulsified asphalt is simple, rapid, wide in application range, high in economic and social benefits, high in practicability, good in use effect and convenient to popularize.