The invention relates to high-performance foaming cement, which comprises cement slurry and foams, wherein the cement slurry is prepared from the following raw materials in parts by weight: 100 parts of cement, 10-30 parts of gypsum powder, 10-50 parts of active admixtures, 10-40 parts of mineral admixtures, 1-5 parts of re-dispersible gelatine powder, 0.5-1.5 parts of cellulose ether, 0.2-1.0 part of water reducing agent, 0.1-0.5 part of water repellent and 40-90 parts of water; and the foams are prepared from the following components in parts by weight: 1 part of foaming agent, 0.2-0.8 part of foam stabilizer and 30-50 parts of water. A preparation method of the high-performance foaming cement comprises the steps of: (1) preparing the cement slurry; (2) preparing the foams by using a foaming machine; and (3) mixing and uniformly stirring the cement slurry and the foams according to the weight ratio of 1:(0.1-1), and pouring and molding. The high-performance foaming cement disclosed by the invention has high closed porosity and small shrinkage value, and integrates the performances of heat insulation, sound insulation, water repellent, shock resistance, fire protection, durability, low carbon and environmental protection into a whole.