The invention discloses an LED lamp aluminum alloy shell high in heat dissipation performance. The LED lamp aluminum alloy shell comprises an aluminum alloy substrate and a heat-dissipation coating, wherein the surface of the aluminum alloy substrate is coated with the heat-dissipation coating. The heat-dissipation coating comprises, by weight part, 60-100 parts of main ingredients, 20-40 parts ofa sepiolite compound, 0.1-0.18 part of tetrabutyl titanate, 1-1.9 parts of epoxy end-capping polyether amine, 0.4-1 part of phthalic anhydride, 1-1.8 parts of alpha-sulpho fatty acid methyl ester, 0.5-1 part of 1, 5-naphthalene disulfonic acid, 0.6-1.4 parts of fatty alcohol-polyoxyethylene ether sodium sulfate, 1-2 parts of glycerinum, 1-2 parts of calcium stearate, 1-1.8 parts of pigment, 0.4-1part of a dispersing agent and 0.4-1 part of a flatting agent. The invention discloses an LED lamp excellent in heat dissipation performance. The LED lamp excellent in heat dissipation performance comprises the LED lamp aluminum alloy shell high in heat dissipation performance and an LED chip, wherein the LED chip is encapsulated onto the LED lamp aluminum alloy shell high in heat dissipation performance.