The invention discloses a foam light partition board and a preparation method of the same. The foam light partition board is characterized by being prepared from the following raw materials in parts by weight: 100-120 parts of medium density polyethylene, 30-35 parts of metallocene linear low density polyethylene, 10-14 parts of cellulose acetate, 40-45 parts of iron ore slag powder, 10-12 parts of glass fiber, 3-5 parts of sodium dodecyl benzene sulfonate, 40-50 parts of quartz sand, 12-14 parts of ardealite, 20-24 parts of fly ash, 10-12 parts of straw powder, 1-2 parts of used oil, 8-10 parts of municipal sludge powder, 1-2 parts of dipropyl ethanol amine, 30-35 parts of modified loess powder and 3-4 parts of Freon. The foam light partition board provided by the invention has the advantages of being free from steam or autoclaved curing, rapidly reacting and curing at normal temperature, being high in strength, excellent in water resistance, free from moisture absorption and scumming, anti-freeze, soundproof, heat insulating, heat retaining and inflaming retarding, largely using industrial residue and agricultural wastes, saving resource and energy, avoiding discharge of waste gas, waste water and waste residues, and the like.