The invention relates to an ecological shell powder coating substrate, and belongs to the technical field of building materials. The ecological shell powder coating substrate is prepared from the following raw materials in parts by weight: 40-50 parts of shell powder, 20-28 parts of talcum powder, 3.2-5.5 parts of sodium bentonite, 8.5-9.8 parts of a pure acrylic emulsion, 0.2-0.4 part of an antifoaming agent, 0.5-0.6 part of a dispersing agent, 0.26-0.4 part of HPMC (hydroxypropyl methyl cellulose), 0.2-0.35 part of a bactericide, 20-35 parts of water and 0.25-0.45 part of a mildew preventive; a preparation method comprises the following steps: step 1, preparing the shell powder; step 2, preparing the ecological shell powder coating substrate. According to the ecological shell powder coating substrate, provided by the invention, the production cost is extremely low, the cost of the ecological coating is greatly reduced, and a greater price advantage and quality guarantee are achieved; besides, the prepared exterior wall coating has the characteristics of ultraviolet radiation protection, air purification, corrosion resistance, scratch resistance, temperature regulation and control, good stain resistance and the like, and the preparation method is simple in preparation processes, environment-friendly and low-carbon.