This invention is attributed to the field of building materials, concretely speaking, relates to a kind of decoration materials with heat preservation and sound absorption functions and its preparation method. The heat-preserving and sound-absorbing decoration materials comprise a hear-preserving layer, a decoration layer and a mask layer. The heat-preserving layer is made of polybenzene particles, water glass, cement, silica fume, slag powders, fly ash and sand. The decoration layer is made of polybenzene, rubber powders, pigment, cement, silica fume, slag powders and sand. The mask layer is made of organosilicon series of waterproof materials. By the technique of spray stir, layered moulding, compression molding and vapor conservation, the polybenzene particles and the porous structure can help realize highly effective heat preservation. The sound-absorbing structure can be fabricated by compression molding. Fascinating stereo patterns can be organized by alternation of mould shape and pigment. Besides, thanks to the mask layer, wear and decoration properties can be promoted. The product performs excellent heat-preserving, sound-absorbing and decorative functions.