The invention provides a magnesium oxychloride fiber light wallboard, and relates to the wallboard field in the construction materials. The wallboard is composed of the following components in parts by weight: 40 to 60 parts of magnesium chloride water solution, 20 to 30 parts of magnesium oxide, 0.1 part of fly ash, 0.2 part of slag, 0.5 part of construction waste, 0.1 part of waste ceramic, 2 parts of short glass fiber, 2 parts of straw, 2 parts of saw dust, 3 parts of perlite, and 0 to 2 parts of modifier. The formula of the wallboard comprises industrial and agricultural wastes such as fly ash, slag, mineral slag, construction wastes, broken ceramics, straws, and saw dust, thus the wastes are fully recycled and reutilized, and moreover the using amount of sands and stones is reduced, so the destroy on mountain and river bed is avoided, resources are saved, and environment is protected. The prepared magnesium oxychloride fiber light wallboard has the advantages of good water resisting property, high compressive strength, good freeze resisting performance, good acid/alkali resistant property, no halogen appearance, no scumming, and no deformation.