The invention belongs to the technical field of building material processing, and provides a thermal insulation material which is prepared from straw and is low in heat conductivity coefficient, and a production method thereof. The thermal insulation material comprises following ingredients, by weight, 68 to 73 parts of straw, 8 to 10 parts of glass wool, 4 to 11 parts of mineral slag, 11 to 13 parts of quartz sand, 27 to 41 parts of fly ash, 6 to 15 parts of a foaming agent, 6 to 11 parts of an auxiliary agent, 6 to 11 parts of meerschaum, 12 to 14 parts of calcium carbonate powder, 1 to 3 parts of a binder, and 1 to 4 parts of an environmental-friendly glue. According to the production method, the thermal insulation material is obtained via smashing, mixing, moulding, and curing of the raw materials. The thermal insulation material is produced based on modification of a convention thermal insulation material formula; the heat conductivity coefficient is capable of reaching 0.038w/(m*k); and excellent compression resistance and flame resistance are achieved.