The present invention relates to a composite sandwich wall panel comprising: at least two fine sand gypsum or concrete panels (I) in each of which a glass fiber web (2) is disposed at center, and at least one polystyrene panel (3), which are bonded alternatively. The surface layer and the bottom layer are the fine sand gypsum or concrete panels, and according to the requirement, the wall panel can be produced to have three or more layers of composite panels. The wall panel of the present invention has advantages of light weight, easy installation, strong loading capacity, no seam crack, no plaster, and good performance of thermal insulation, sound insulation and fireproof as well as it is suitable for internal wall and external wall.