The invention relates to a gypsum-based heat insulation board and a production method thereof, and belongs to the technical field of building materials. The gypsum-based heat insulation board is produced from semi-hydrated gypsum, anhydrous gypsum, a water reducing agent, a dispersing agent, a retarder, a water retaining agent, a foaming agent, a foam stabilizer and water. The production method comprises the following steps: proportionally mixing the foaming agent, the foam stabilizer and water to obtain a foaming solution, and preparing foam by using a foaming machine; uniformly mixing the above raw materials in proportion, stirring and mixing the raw materials and water in proportion, and adding the foam into the obtained slurry to obtain a mixed slurry; and injecting the mixed slurry into a mold to produce a core board, pouring a lower protective surface layer slurry into the forming mold, placing the core board on the protective surface layer slurry, preparing an upper protective surface layer, and performing hardening, demolding, and drying to obtain the heat insulation board. The semi-hydrated gypsum and the anhydrous gypsum are used as main raw materials, so that the produced gypsum-based heat insulation board has the advantages of small density, high strength, fireproof property, good heat insulation performance, non-toxicity and non-corrosivity, and the production method has the advantages of simple production process and low cost.