The invention relates to an outdoor decoration Zisha coating material for building, and a preparation method thereof, particularly to a building coating material and a preparation method thereof, wherein the building coating material comprises, by weight, 7.0% of a dispersion water, 0.2% of a thickener EBS-481F, 0.1% of a PH value regulator RF-86, 1.0% of a cosolvent ethylene glycol, 0.8% of a film forming aid TEXANOL, 0.5% of a dispersant RT-8027, 0.1% of a fungicide 623, 13.7% of a lacquer emulsion PX-7015, the material obtained by diluting 0.1% of a thickener 730 with 0.5% of water, 20-40% of Zisha clay with a particle size of 80-120 mesh, 10-30% of Zisha clay with a particle size of 40-80 mesh, 5.0-7.5% of Zisha clay with a particle size of 20-40 mesh, and 1.0% of a waterproof agent R-75. The preparation method comprises: breaking Zisha ore, firing, crushing, screening to achieve a particle size of 80-325 mesh, and mixing to obtain the product. According to the present invention, the prepared Zisha coating material has significant comprehensive effects, particularly such as air purification, formaldehyde removing, external body thermal insulation enhancing, ultraviolet radiation preventing, natural color achieving, wall crack preventing.