The invention provides a flame-retardant, smoke-suppressing and environmentally-friendly PVC low foaming board. The flame-retardant, smoke-suppressing and environmentally-friendly PVC low foaming board comprises, by weight, 100 parts of PVC, 3-6 parts of a heat stabilizer, 0.5-3.2 parts of a lubricant, 6-15 parts of a processing aid, 0.5-1 part of a foaming agent, 29-120 parts of a flame retardant, 5-50 parts of a filler and 0.4-3 parts of a plasticizer, wherein the flame retardant is a compounded flame retardant, the compounded flame retardant comprises zinc borate, aluminum hydroxide, magnesium hydroxide, ammonium octamolybdate and an environmentally-friendly antimony-free flame retardant, and the filler comprises light calcium carbonate. All the flame retardants have synergistic effectsto achieve the flame retardation and smoke suppression purposes with few materials, and cooperate with the light calcium carbonate used as the filler in order to make the flame-retardant, smoke-suppressing and environmentally-friendly PVC low foaming board have good flame retardation and smoke suppression effects, good mechanical properties and good environmental protection property. The flame-retardant, smoke-suppressing and environmentally-friendly PVC low foaming board is produced by raw material proportioning, high-speed mixing, low-speed mixing, twin-screw extruder extrusion, mold molding, cooling setting and cutting processing processes.