The invention relates to a building material and a method for manufacturing the same, in particular to a building material with the functions of heat insulation and decoration. The building material is divided into two parts of a heat-insulating layer and a protective decorative layer, wherein, the heat-insulating layer selects one type among heat-insulating materials such as polystyrene plastics, plastic extruding polystyrene, phenolic aldehyde foam, urea formaldehyde foam, grease recovery all-water-blown urethane foam, foam glass and so on, and the decorative layer is formed by mechanical mixing of one type or a plurality of types among fluoroacrylate emulsion, fluorosilicate emulsion, polyvinylidene chloride emulsion, silicone-acrylate emulsion, pure-acrylic emulsion, styrene-acrylic emulsion and unsaturated resin, one type or a plurality of types among materials such as natural colored stone dust, sandstone dust, light calcium carbonate, quartz sand and so on, and raw materials such as auxiliary agent and so on. The building material has simple manufacturing and construction techniques, short construction period, high efficiency, good heat insulation effect, beautiful appearance and durability.