The invention relates to a preparation method of a microporous kyanite-based lightweight insulating refractory material. The preparation method is realized by comprising the following steps: (1) by taking kyanite, auxiliary materials and a cementing material as raw materials, adding a certain amount of dispersing agent, thickening time control agent and foam stabilizer, premixing, adding a certain amount of water, and mixing to prepare uniform slurry; (2) adding a certain amount of foaming agent in the slurry, mechanically agitating and foaming to prepare uniform foam slurry; (3) injecting the foam slurry into a mould, standing under a room-temperature environment so as to be cued and formed; (4) demoulding a green body, and then drying and sintering to obtain the microporous kyanite-based lightweight insulating refractory material. The prepared microporous kyanite-based lightweight insulating refractory material has the advantages of microfine air bore aperture (20-200mum), low volume density, high porosity, high strength, small sintering line change rate, low thermal conductivity, high usage temperature and the like. The raw materials are mainly kyanite, and other raw materials are common materials in refractory material industry, and are non-toxic and low-cost. The preparation method is simple and is easily controlled for the technology, and is suitable for industrial production.