The invention relates to a thermal insulation compound wall body of a dry hanging keel decoration plate and a construction method, wherein a prefabricated thermal insulation keel is mounted on a basal layer wall body through a mechanical anchor firmware, and then a negative angle column and a positive angle column are mounted, heat-insulating material is filled between the positive angle column and the negative angle column, both lateral sides of the invention are respectively equipped with two thermal insulation keels, and J-shaped slotted plates are respectively mounted on the two thermal insulation keels, and a prefabricated door-window insulating sleeve hole is mounted on a door-window opening, the periphery of a sash is filled and infused with foaming polyurethanes, a heat-insulating board is filled between the thermal insulation keels, and the thermal insulation keels are fixed by an anchor firmware with a round plate, and the foaming polyurethanes are infused in gaps, at last a cladding decoration panel is fixedly mounted on the outer side of the thermal insulation keels by self-threading screws. The thermal insulation property of the thermal insulation compound wall body is excellent, and the thermal insulation compound wall body achieves an integral dry construction, the architectural exterior facing is rich and colorful, the cubic effect is strong, the invention is not easy to be polluted, which can be widely applied to civilian constructions which are newly constructed, enlarged, and rebuilt and needs thermal insulation and heat insulation, in particular to villas whose heights of eaves are less than 20m and floors are less than 3 to 4, and outer-eaves decoration of middle grade and high grade constructions.