The invention belongs to the field of adhesives and discloses high-permeability water-borne epoxy slurry as well as a preparation method and an application thereof. The slurry is prepared from a component A and a component B, wherein the component A comprises 15wt%-40wt% of liquid epoxy resin, 60wt%-85wt% of an activated diluent and 0-1wt% of a silane coupling agent; the component B comprises 40wt%-80wt% of a waterborne amide Schiff base compound curing agent and 20wt%-60wt% of a phenolic amine compound. During use, the component A and the component B are uniformly mixed in the mass ratio being 100:(10-30), and the high-permeability water-borne epoxy slurry is obtained. The slurry has excellent mechanical property on a wet or dry basal plane and has broad application prospects in the engineering fields of hole sealing treatment of porous materials such as porous ceramic or porous resin molds and the like, interfacial adhesion treatment agents, chemical grouting for waterproof and leakage-proof reinforcement or the like.