The invention specifically relates to a lightweight, heat-preserving, high-strength and environment-friendly building board and a preparation method thereof, belonging to the field of building materials. The environment-friendly building board is prepared from the following components by weight: 5 to 10 parts of cement, 3 to 12 parts of gangue, 4 to 15 parts of fly ash, 2 to 8 parts of paraffin, 7 to 13 parts of urea, 4 to 8 parts of sulfomethyl phenol formaldehyde resin, 8 to 15 parts of bentonite, 3 to 9 parts of methyl cellulose, 1 to 5 parts of mullite, 2 to 5 parts of Chinese medical stone, 2 to 5 parts of zeolite, 1 to 6 parts of sulfomethyl lignite, 4 to 15 parts of hydroxyethyl cellulose and 0.5 to 1.5 parts of a foaming agent. The board provided by the invention has good performances like lightweight, heat preservation, fire resistance and high strength, and the performance index of the board is much higher than national and industrial standard requests in China.