A kind of waterborne varnish for inkjet printing was synthesized, and properties of the waterborne varnish were characterized to make it suitable for the glazing requirements of inkjet printing and other printability requirements. The waterborne varnish was synthesized from epoxy resin (E-51), epoxy diluent (ED), acrylic acid, trimellitic anhydride, maleic anhydride and organic amine by three steps of ring opening reaction, esterification reaction, neutralization reaction. The viscosity, film-forming property, water absorption of waterborne varnish and the water resistance, lightness, wear resistance and bonding strength of coated paper were tested. The effects of the ratio of E-51 and ED in the polymerization system on the properties of waterborne varnish were studied. In the test of printability of self-made waterborne varnish, the absorption of digital inkjet paper to varnish and the influence of varnish on color reproduction of printed image were discussed and studied. The results show that when the molar ratio of epoxy group in E-51 and ED is about 1:1, the prepared varnish is suitable for inkjet printing, and its film-forming property, such as water resistance, adhesion and friction resistance are better. At the same time, its printability is also better.