The invention discloses a basalt fiber composite novel wall material and a preparation method thereof, wherein the basalt fiber composite novel wall material is prepared from the following raw materials by weight: 0.6-0.8% of basalt fiber yarns, 0.3-0.7% of basalt fiber grid cloth, 24-25% of fast hardening sulphoaluminate cement, 40-45% of river sand, 1-3% of screw thread steel, 5-7% of reinforcing steel bars, 2-5% of channel steel, 0.3-0.4% of flame-retardant foam, 13-15% of water, 0.24-0.3% of expanded perlite, 2.9-3.2% of an adhesive, 0.12-0.15% of an early strength agent or a retarder, 0.6-0.8% of a styrene-acrylic emulsion, 0.24-0.26% of ferrous sulfate, 0.49-0.51% of calcium and magnesium powder, and 0.98-1% of a concrete surface reinforcing agent. According to the invention, the wall material prepared from the components according to the specific ratio according to the architectural conventional method has characteristics of uniform thermal expansion and cold contraction, goodtoughness and breakage resistance, has weak alkality so as not to easily corrode iron, aluminum and other metal materials, further has advantages of light weight, environmental protection, high strength, good toughness and low energy consumption, can be freely modeled according to molds, and is suitable for popularization in the building material field.