Vitrified micro bubbles thermal insulation material was made of vitrified micro bubbles, cement, fly ash, gypsum and sodium silicate, by molding process. VAE emulsion and stearic acid-polyvinyl alcohol emulsion were added to improve water resistance of the material. Mixed with 10% VAE emulsion and 5% stearic acid-polyvinyl alcohol emulsion, properties of the material are followed as: flexural strength 0.64MPa, compressive strength 1.35MPa, softening coefficient 0.71 and 2h volumetric water absorption 6.9%.