The invention relates to the field of pencil board production, and especially relates to a manufacturing formula of an environment-friendly pencil board and a technology thereof. The raw material comprises the following components: vinyl chloride resin, waste polyvinyl chloride, lightweight stone flour, wood powder, fiber powder, a foaming agent, a foaming conditioning agent, stearic acid, a coupling agent, a plasticizer, polyethylene wax, and a stabilizing agent. The manufacturing technology comprises the steps of grinding, milling, high-temperature material stirring, low-temperature material stirring, extruding, three-roller sizing, pulling, cutting, and packing. The technology recycles the waste generated during the pencil processing process, is beneficial to protect the natural ecological environment, saves a large amount of wood at the same time; furthermore, the technology saves a large amount of labor force by reducing the processing steps, and reduces the labor intensity for workers at the same time.