The paper aims to study the effects of different formulations and proportions of raw materials on ink properties and printability. The water-based ink was prepared with polyurethane emulsion, acrylic resin emulsion and water-based color paste as main agent, thickener, desiccant and defoamer as auxiliary agent; parallel plate viscometer, rotating viscometer and other instruments were used to test ink viscosity, hardness, fluidity, wire-drawing property, resistance and other related properties. With the increase of the ratio of acrylic emulsion to water-based color paste, the viscosity increased gradually; the shorter the silk head, the harder the ink, and the higher the gloss; with the increase of the ratio of polyurethane emulsion to water-based color paste, the viscosity gradually decreased; the longer the silk head, the ink first became soft and then hard, and the lower the gloss. With the addition of thickener, ink viscosity increased. With the addition of drying agent, ink drying time was shortened. When the ratio of acrylic resin emulsion to water-based color paste is 5:1, it is a comparatively excellent formula. When the ratio of polyurethane resin emulsion to water color paste is 3:1, it is a comparatively excellent formula.