The invention relates to a formulation for an antifouling coating system to be applied on submerged substrates. The invention is characterized in that the formulation contains at least 30 wt % of water relative to the total weight thereof, at least 10 wt % relative to the total weight thereof of a dry extract of a waterproofing agent selected from a silicone resin, a polyurethane resin, and/or a styrene acrylic copolymer resin either alone or mixed, and at least 5 wt % relative to the total weight thereof of a dry extract of an active anti-adhesion agent. The invention also relates to a method for processing substrates to be submerged using such a formulation, and to the use of such a formulation as an antifouling agent for deterring the attachment of marine organisms such as algae, shellfish and other crustaceans on any submerged substrate, and in particular ship hulls.