The invention provides a graphene and stone tailing based foaming light heat insulation board. The graphene and stone tailing based foaming light heat insulation board is prepared from the following components of a stone tailing, clay, graphene, calcium carbonate, vermiculite, a high temperature cosolvent, expanded graphite, a stabilizer, a dispergator and a pigment. The heat insulation board usesthe stone tailing as the base material, the graphene and the vermiculite are added, then the board better achieves the advantages of light weight, high strength and heat insulation, the performancesof fireproofing, insulation and weatherproofing of the board are better improved, the expanded graphite is used as a foaming agent, the high temperature foaming process is used, the sectioned thermalinsulation mode is adopted in sintering, the hardness, the high temperature resistance and the flame retardance performance of the heat insulation board are improved, the density and the pore distribution of the board are better controlled, the better effects of heat insulation, light weight and high strength are achieved, and the heat insulation board further has the functional characteristics offireproofness, sound insulation, waterproofness, anti-aging, corrosion resistance, green and environmental protection.