The invention discloses a flame retardant heat insulating material which comprises the following matters in parts by weight: 10-18 parts of glass beads, 8-15 parts of calcium silicate, 3-5 parts of nonionic acrylic acid, 6-10 parts of crushed crude pearlite, 1-3 parts of organosilicone modified epoxy resin, 2-6 parts of hydrogenated acrylonitrile butadiene rubber, 2-4 parts of tourmaline negative ion powder, 6-14 parts of a polyacrylate emulsion, 1-6 parts of polypropylene fibers, 2-4 parts of ammonium polyphosphate, 6-9 parts of magnesium carbonate, 2-6 parts of sugarcane bagasse cellulose xanthate, 2-5 parts of melamine cyanurate acid, 4-9 parts of sepiolite fibers, 2-8 parts of silicon carbide, 5-9 parts of triisocyanocyanate, 2-5 parts of polyvinyl alcohol, 1-6 parts of a nuclear shell macromolecular polymerized emulsion and 2-5 parts of glass fibers. The flame retardant heat insulating material disclosed by the invention is efficient and flame retardant, corrosion-resistant, good in airtightness, stable in physical and chemical properties and high in aging resistance and weather resistance, has excellent heat insulating, fireproof and sound-absorbing properties, has a certain eliminating effect on indoor peculiar smells and various harmful gas and is low in comprehensive production cost.