A nail polish with a crack and color changing effect includes a polymer, a solvent, a plasticizer, a pigment, a silica and a thermochromic powder. The polymer accounts for 10%-30% of the total weight and contains nitrocellulose and resin. The solvent accounts for 44%-64% of the total weight. The plasticizer accounts for 3%-8% of the total weight. The silica accounts for 8% of the total weight. The pigment accounts for 10%-20% of the total weight. The thermochromic powder accounts for 5% of the total weight. The nail polish with a crack and color changing effect composed by the aforementioned components may generate cracks after being applied and dried and also generate a color changing effect with the changing of the temperature of nails.