Abstract: Molybdenum tailings are the solid waste produced by molybdenum mining industry, which is a strategic emerging resource in Chinaand urgently needs development and utilization. Molybdenum tailings were treated by mechanical activation and chemical activation, and a certain amount of Portland cement was added to prepare molybdenum tailings powder cement. The 50% molybdenum tailings powder cement-based insulation board was prepared by the chemical foaming process. In accordance with relevant national standards, the apparent density, thermal conductivity, compressive strength and other performance parameters of the insulation board were tested, and the process parameters of the cement-based insulation board with high content of molybdenum tailings were optimized. The results show that: the compound doping with 2% expanded polystyrene (EPS) particles and 8% hydrogen peroxide (30% solution) can obtain an apparent density of 180 kg/m3, a compressive strength of 0.28 MPa, and thermal conductivity of 0.050 W/(m·℃), which basically meets the requirements of JC/T2200-2013, and provides a feasible technical way for the utilization of molybdenum tailings with high added value.