The present invention relates to an aqueous adhesive composition, to improve the durability of a composite material prepared by adhering an elastic polymer to a metal. The aqueous adhesive composition comprises at least one halogenated olefin polymer, at least one high-functional epoxy resin, and at least one diacid-modified resin, wherein the diacid-modified resin is produced by adding one or more diacid or small molecular derived from diacid; the halogenated olefin polymer is selected from the group consisting of halogenated polyethylene, halogenated polypropylene, halogenated ethylene-propylene copolymer, halogensulfonated polyethylene, halogensulfonated polypropylene, halogensulfonated ethylene-propylene copolymer and mixture thereof; the resin produced by adding one or more diacid or small molecular derived from diacid is selected from the group consisting of isoprene, butadiene and mixture thereof; the diacid or small molecular derived from diacid are selected from the group consisting of maleate, maleic ester, maleic diesters, maleic anhydride, citraconic acid, citraconic anhydride and mixture thereof. |