The invention relates to a novel and environment-friendly interior wall 
coating for efficiently removing 
formaldehyde in air and a preparation method thereof. The 
coating is prepared from the following components: water, 
hydroxyethyl cellulose, a thickener, 
ethylene glycol, a water-based 
defoamer, a water-based dispersing agent, a water-based 
wetting agent, a water-based multi-functional agent, kieselguhr, 
titanium dioxide, coarse whiting, calcined kaolin, a 
formaldehyde elimination agent, a 
mildew preventive, a antibacterial 
preservative, 
formaldehyde-removing 
vinyl acetate-acrylic 
emulsion, 
opacity polymer, a 
mildew preventive, a coalescing agent, a thickener and a water-based 
defoamer. The novel and environment-friendly interior wall 
coating has the following benefits: the novel and environment-friendly interior wall coating prepared through combining the components with the proportion has the advantages of ordinary coatings, such as, decoration, protection and possibility of living in right after decoration, but also has the function of cleaning and optimizing 
indoor air, can efficiently and quickly remove various indoor pollutants like formaldehyde and peculiar smell, improves the air quality of the indoor environment, and improves the indoor environment standard.