The invention discloses a gas-coagulation lightweight surface exterior wall coating, and belongs to the technical field of building coatings. The gas-coagulation lightweight surface exterior wall coating comprises the following components in parts by weight: 25-30 parts of a film forming emulsion, 10-20 parts of titanium white powder, 5-6 parts of kaolin, 24-30 parts of heavy calcium, 1-1.5 pats of an anti-freezing agent, 0.4-0.8 part of an anti-foaming agent, 0.2-0.5 part of an adhesion accelerator, 0.1-0.15 part of an anti-radiation agent, 1-2 parts of an anti-cracking enhancer, 0.1-0.2 partof a wetting agent, 0.8-1.2 parts of a film-forming auxiliary agent, 0.1-0.2 part of a cellulose thickener, 0.1-0.3 part of a dispersant, 0.2-0.3 part of a PH regulator, 1-3 parts of a viscosity stabilizer, 5-6 parts of silver nanoparticles, 5-6 pats of a magnetic aerogel, and 10-20 parts of deionized water. By the lightweight and heat insulation characteristics of the magnetic aerogel, the exterior wall coating is endowed with the characteristics of gas-coagulation and lightweight, and the uniform dispersion of the magnetic aerogel in the coating is guided by applying the external magnetic field in the mixing process, so that the overall performance of the coating is improved, such as cracking resistance, viscosity and heat insulation of the coating.