This invention discloses a thermal-insulated building plaster used on inner and outer walls. The building plaster is composed of: cement 100 wt. parts, hollow mineral microbeads 30-150 wt. parts, latex powder 0.3-1.6 wt. parts, methylcellulose ether 0.2-1.0 wt. part, lubricant 0.10-0.42 wt. part, and fiber 0.35-1.8 wt. parts. The building plaster is manufactured by uniformly mixing the above raw materials. The building plaster can be used on walls and roofs of domestic and industrial architectures, and has such advantages as good thermal and sound insulation, stable structure, high strength, high cracking and shocking resistance, low water-permeation rate, high freezing and corrosion resistance, no toxicity, no pollution and no radiation.