The invention discloses a method for preparing a glass-based pearlescent pigment with high luster and high weatherability, which is characterized by pretreating the glass substrate with ammonium fluoride at certain concentration to coarsen and activate the surface of the glass substrate, thus effectively improving the specific surface area and the surface activity; and further improving the surface activity by coating Al2O3 on the first layer, and covering the photocatalytic activity site on the nanoscale TiO2 layer by coating cerium oxide and zinc oxide on the outer layer, thus effectively improving the weatherability and the light fastness.