The invention discloses a thermal coating special for a building exterior wall. The thermal coating is prepared from, by weight, 20-30 parts of acrylic emulsion, 15-25 parts of novolac epoxy, 12-18 parts of modified talc powder, 4-9 parts of attapulgite, 5-11 parts of titanium dioxide, 3-7 parts of hollow glass beads, 6-10 parts of silicon dioxide gel, 2-4 parts of nano titanium dioxide, 1-3 partsof lignocellulose, 2-3 parts of dispersing agent, 1-4 parts of coalescing agent and 30-40 parts of deionized water. The thermal coating is excellent in performance, saves energy and protects the environment, can form effective protection on the surface of a coated base material, and is high in decoration property, low in energy consumption, resistant to fire and combustion, capable of insulatingand preserving heat and long in service life.