The invention relates to a recycled fine aggregate aerated building block with electromagnetic wave absorption performance. The recycled fine aggregate aerated building block comprises the following raw materials in parts by weight: 100-250 parts of recycled concrete aggregate fine powder, 50-100 parts of sand, 70-100 parts of cement, 30-50 parts of lime, 0.5-0.8 part of graphite, 0.5-1.0 part ofcarbon black, 20-30 parts of lightweight aggregate, 0.8-1.6 parts of polyurethane hot melt slag, 0.01 part of industrial carbon nanotube, 20-30 parts of steel slag powder, 0.4-0.5 part of aluminum powder, 0.7-1 part of carbon fiber, 3-6 parts of dispersant and 300-400 parts of water. The aerated building block has the advantages of low carbon, energy conservation, environmental protection, light weight, heat preservation and electromagnetic wave absorption performance; simple preparation method and convenience in construction are achieved; and the proportion of the components can be adjusted according to the wave absorption requirement, different reflectivity can be obtained, and various building external maintenance walls with radiation protection and heat preservation and insulation functions can be met.