The invention discloses a method for preparing micro expanded inorganic heat insulation mortar. Materials such as common silicate cement, desulfuration ash, calcium carbonate powder, re-dispersible latex powder, hydroxypropyl methyl cellulose ether, wood fiber, polypropylene fiber, surfactant, foam stabilizer, water, vitrified micro bubbles and the like are adopted; and the mortar is obtained by adopting the steps of stirring, mixing, shaping, curing and the like. The method has the advantages of low cost, early micro expansion, low later linear shrinkage rate, fire resistance, durability and the like, is easy to construct, and achieves good effect of preparing the I-type building heat insulation mortar by using the III-class vitrified micro bubbles.