The invention discloses a lightweight high-strength heat-insulation refractory castable. The castable comprises the following raw materials by weight: 30 to 40% of lightweight mullite aggregate, 5 to 10% of an aluminum-rich spinel hollow sphere, 5 to 8% of andalusite, 6 to 9% of aluminum-rich spinel powder, 5 to 7% of kyanite powder, 5 to 8% of silicon powder, 5 to 10% of rho-Al2O3 micro powder, 12 to 18% of calcium aluminate cement, 3 to 6% of a refractory fiber, 0.05 to 0.15% of sodium hexametaphosphate, 0.05 to 0.15% of an organic water reducing agent, 0.04 to 0.07% of an organosilicon coupling agent and 0.01 to 0.02% of a defoaming agent. According to the invention, the heat insulation performance of the lightweight refractory castable is guaranteed, close bonding between aggregate and powder in the refractory castable is improved, mechanical strength, capacity of resisting mechanical and thermal shock damage, anti-permeability and comprehensive usage performance at high temperature of the refractory castable are enhanced, and cost for the refractory castable is reduced, thereby finally achieving the comprehensive targets of reduction of heat loss in cooling of furnace beams and columns, prolongation of the service life of a heat insulation lining, improvement of heating quality in a furnace, reduction of energy consumption and maintenance cost, etc.