The invention belongs to the building material technique field, in particular relates to a building thermal insulating mortar. The building thermal insulating mortar is characterized in that the mortar is composed of dry powder and water, the dry powder and water are present in a weight ratio of 1:1.3, when in use, the dry powder is added to the water and agitated evenly; and the dry powder is mixed by materials of modified cement, modified fly ashes, a re-dispersible latex powder, wood fibers, polypropylene fibers, calcium formate, hydroxypropyl methylcellulose, hydrophobic agent, multi-functional auxiliary agent and modified expanded perlite, materials of the dry powder include: 500 parts of modified cement, 160 parts of modified fly ashes, 25 parts of re-dispersible latex powder, 3 parts of wood fibers, 1 part of polypropylene fiber, 5 parts of calcium formate, 6 parts of hydroxypropyl methylcellulose, 1 part of hydrophobic agent, 3 parts of multi-functional auxiliary agent and 300 parts of modified expanded perlite by weight. The building thermal insulating mortar has advantages of strong heat preservation, firm bonding with wall bodies, compression resistance, superior tensile performance, good weathering resistance, environmental protection, and excellent waterproofing, anti-cracking and shedding prevention properties.