The invention relates to the technical field of fabrication methods of wall materials, in particular to a fabrication method of a novel lightweight mixed material wallboard. The fabrication method effectively employs industrial waste, sand and stone as substitutive raw materials, so that the use value of the industrial waste is increased; the production cost is lowered; the strength, toughness, sound insulation property, thermal insulation property, heat preservation effect, water resistance, moisture resistance and shock resistance of a finished product are good; and the weight of the wallboard is reduced. The fabrication method comprises the steps of 1), fabricating the industrial waste, the sand or the stone into pulp, wherein the industrial waste comprises coal cinder, grain slag, slag, phosphogypsum and fly ash; 2), mixing the pulp made from the industrial waste, sand or stone with cement, lime, gypsum and aluminum powder, stirring and casting, carrying out steam curing forming, and processing into particles with uneven sizes; 3), mixing the raw material particles processed in Step 2) with the cement and glass fiber yarn or polypropylene fiber yarn, stirring and casting into blocks; and 4), slotting and cutting the raw material blocks processed in Step 3) through slicing cutting equipment, and cutting the blocks into slices.