The aerogel slurry is made of high-performance SiO aerogel as the main raw material, and adopts a unique special process to disperse hydrophobic SiO aerogel particles in an aqueous medium to prepare a slurry with high-efficiency thermal insulation properties. This product perfectly solves the dust problem of the aerogel during use and transportation, and retains the structure of the aerogel to the greatest extent. The thermal conductivity of the dried coating of the slurry at room temperature can be as low as 0.018W/m·k, and the dry slurry density is as low as 60kg/m³. After drying, the water-based aerogel slurry will exhibit hydrophobic properties. Aerogel slurry is an ideal additive for lightweight, high-efficiency thermal insulation and waterproof materials, especially in some water-based thermal insulation coatings and other composite thermal insulation materials.