The invention discloses a shield cutter wear-resistant coating. The coating includes 25% to 35% of YG8 particles, 3% to 8% of cobalt powder, 0.3% to 0.8% of silicon powder and the balance nickel-basedsolder powder. A specific preparation method comprises the steps that the YG8 particles, the fine cobalt powder, the fine silicon powder and the nickel-based solder powder are weighed according to the percentage of mass, and the part, where cutter teeth are to be installed, of the surface of a cutter is coated with a flow retarder; the cutter coated with the flow retarder is installed into a matched casting mold cavity; after the YG8 particles, the cobalt powder, the silicon powder and the nickel-based solder powder are uniformly mixed, and melting at high temperature and heat preservation are carried out for a certain period of time to form metal liquid; and the metal liquid is slowly injected into the mold cavity, demolding is carried out after the mold is cooled, the cutter is taken out, and the wear-resistant coating is formed on the surface of the cutter. The coating has the advantages of being good in abrasion resistance and few in defect; and in addition, the preparation methoddoes not need a binder, so that the preparation method is green and environment-friendly, and the production efficiency is high.