The invention provides a simply-built green light steel fabricated building and an installation method. The fabricated building comprises wall plates, main plates, composite frame columns and main connection pieces. The two wall plates are connected by means of the corresponding main connection pieces through self-tapping screws. The composite frame columns and the wall plates are connected by means of the corresponding main connection pieces through self-tapping screws. In the connection process, firstly the main connection pieces abut against the composite frame columns, the self-tapping screws are screwed into the composite frame columns to fix the composite frame columns, the wall plates are then arranged in place, and the main connection pieces are clamped into lateral side grooves of the wall plates. The main boards are connected with the composite frame columns, and body column sleeves of the portions, on the top layers of the main plates, of the composite frame columns are inserted in upwards-exposed tenon columns in a sleeved mode and are then fixed through bolts. By means of the full industrialized prefabrication of the wall plates and the main plates, the prefabrication rate of main components of the building is greatly increased, and therefore the structure safety and quality of the building are better facilitated, site workloads are reduced, the construction environment pollution is reduced, the construction period is shortened, and cost is saved.