The invention relates to a light-weight indoor floor leveling mortar, which comprises the following components in proportion by weight: 30-35 ordinary portland cement, 4-5 hydrated lime, 5-8 light aggregate, 55-60 heavy aggregate (ordinary river sand) and 1.0 compound additive, wherein the light aggregate is an inorganic vitrified hollow cellular material of which the fineness is lower than 100 meshes; and the compound additive can be prepared by mixing 0.1 part by weight of dispersible latex powder, 0.3 part by weight of cellulose ether, 0.5 part by weight of water reducing agent and 0.1 part by weight of coagulant agent. The construction method comprises the following steps: watering the mortar with water which is 30-50% of the mortar in weight, mechanically or manually mixing until the mortar and water are evenly mixed and achieve the viscosity, and carrying out mechanical spray coating or manual construction. The mortar of the invention has light weight, self-leveling performance, good smoothness, easy toweling, rapid construction, simple and practical process, low cost of unit area and popularization value, is favorable to mechanized construction, lightens the load quantity of a building body, improves the safety earthquake-resistant performance of the construction, achieves leveling thickness rapidly once, and is very suitable for leveling the floor of the bottom surface of a light weight floor material, such as a wood floor and the like.