Abstract: The present invention relates to a coating composition using rubber compound, preferably scrap tire, and method of producing the same. The coating composition is obtained by extracting a liquid styrene butadiene rubber (SBR) from a rubber compound, preferably scrap tire, containing carbon black, adding an additive for hardening the liquid SBR, and selectively adding another additives selected for the different usages of the composition. According to the present invention, a novel coating composition that can be used for rust proofing, waterproofing, fiber grid coating etc. is provided. Also, a large volume of rubber compounds, preferably scrap tires, which otherwise may cause environmental pollution, can be recycled in an economic and reliable process.