The purpose of the study is to clarify the curing effect of raw material composition on waterborne epoxy resin, thereby further improving working performance of waterborne epoxy resin. Based on the preferred variety of epoxy resins and curing agents, different types of waterborne epoxy resins were prepared. The effects of different raw material compositions on the physical properties of waterborne epoxy resin were studied systematically. The reasonable material composition and proportion were determined. The influence of physical properties of waterborne epoxy resin on its adhesion properties was evaluated. The results show that raw material composition has a large impact on the working performance of waterborne epoxy resin. The combination of E–44 waterborne epoxy resin and alicyclic amine has the best comprehensive property. And it is 3.65–36.22% higher than other combinations. The adhesive property index of waterborne epoxy resin has a high correlation with the mechanical property index, and they are in direct proportion.