In this paper, a series of acrylate-polydimethylsiloxane (PDMS) composite latexes was prepared and studied systematically to find the factors that affect their performances. At first, the modified PDMS was synthesized to react with acrylate monomers and participate in free radical polymerization. Then, the modified PDMS was blended with acrylate monomers, and the acrylate-PDMS composite latexes with different formulas were obtained by emulsion polymerization. Because the blending monomers were constrained in the micelle, the two components were interconnected with each other by a covalent bond and the phase compatibility between the two components could be controlled well. Chemical constitution and the morphology of acrylate-PDMS composite latexes were confirmed by using FTIR spectroscopy, TEM, and SEM measurements, respectively. Thermophysics and heat resistance of the dried coatings based on acrylate-PDMS composite latexes were studied using DSC and TGA tests, respectively. Anticorrosion properties of the cured coatings based on acrylate-PDMS composite latexes were confirmed by potentiodynamic polarization test. With low surface tension, good toughness, excellent weather-proof properties, and good high and low temperature stability, the modified PDMS component can improve the performance of the traditional acrylate latex-based waterborne resin effectively, and the prepared acrylate-PDMS composite latexes can be used in heavy-duty anticorrosion applications.