The invention discloses polymer modified rubber mortar for a building leveling layer. The polymer modified rubber mortar is formed by doping three modified materials including rubber powder, a polymer and an organic fibre into modified cement mortar. The polymer modified rubber mortar is formed by mixing the following components in parts by weight: 30-40 parts of cement, 5-20 parts of water, 2-10 parts of the polymer, 50-90 parts of sand, 5-15 parts of the rubber powder, 0.05-0.15 part of the organic fibre, 0-5 parts of mineral admixtures, 0-1 part of an auxiliary, and 0-0.5 part of an additive. According to the freshly-mixed polymer modified rubber mortar, the thickness is controlled to be 7cm, during the curing period of 7 days, the compressive strength of the mortar is not less than 10 MPa, the rupture strength is not less than 3.5 MPa, during the curing period of 28 days, the compressive strength of the mortar is not less than 15 MPa, the rupture strength is not less than 5 MPa, the chloride ion permeation coefficient is not larger than 50*10<-14>m<2>/s, and the heat conductivity coefficient is not larger than 0.5W/m.k. The polymer modified rubber mortar disclosed by the invention can be used for effectively solving the problems of sugaring, peeling, crispiness, bulging, cracking and the like existing in the traditional cement mortar leveling layer, has the performance advantages of permeability resistance, crack prevention, thermal insulation, high tenacity and the like, can fully utilize waste rubber, can turn waste into wealth, and is suitable for various building leveling layers.