The peelable microwave absorption (MA) coating with reversible adhesion for stable presence on substrates and easy release without any residuals is highly desired in temporary electromagnetic protection, which can quickly enter and disengage the electromagnetic protection state according to the real-time changeable harsh surroundings. On the contrary, with the incorporation of abundant absorbent to achieve excellent MA ability, the tunable adhesion and sufficient cohesion are extremely challenging to fulfill the above requirement. The reported peelable coatings still have problems in controlling adhesion/cohesion strength and coating release, facing substantial residuals after peeling even using complex chemical modification or abundant additives. Herein, a peelable MA coating based on the block characteristics of polar and nonpolar segments of poly(styrene-(ethylene-co-butylene)-styrene) (SEBS) is successfully developed. The polyaniline-decorated carbon nanotube as a microwave absorber plays a positive influence on the adhesion/cohesion of the coating due to bonding interaction. The competitive effective absorption bandwidth (EAB) of 8.8 GHz and controllable yet reversible adhesion release on various substrates and complex surfaces have been achieved. The reusability endows peelable MA coating with 93% retention of EAB even after ten coating-peeling cycles. The coating with excellent chemical and adhesion stability can effectively protect substrates from salt/acid/alkali corrosion, showing over 98% retention of EAB even after 8 h of accelerated corrosion. Our peelable MA coating via a general yet reliable approach provides a prospect for temporary electromagnetic protection.