The invention provides a coating material used for a paper electrode, the paper electrode produced by the coating material, and a paper battery. A graphene conducting paper is prepared by a carbon material, a paper pulp and an auxiliary agent with mass ratio of 5-10: 34-57: 6-9; wherein the nano carbon material at least comprises graphene, and the auxiliary agent is one or more selected from modified starch, anionic polyacrylamide, polyvinyl alcohol and carboxymethyl cellulose. The coating material used in the field of the paper battery has the advantages of increasing specific capacity, increasing stable battery performance, and increasing the battery life.