To increase the utilization of hemp stalk core and reduce the environmental pollution caused by biomass waste, the work aims to use hemp stalk core as a raw material, vitrified microbeads as insulation fillers and cement as binders, to develop an eco-friendly and compressive packaging insulation material. The effects of various ratios of hemp stalk core and vitrified microbeads on the insulation performance, compressive strength, water absorption, and dry density of the composite material were analyzed. The composite materials without hemp stalk core were compared at the optimal ratio. The insulation performance increased by 60.6%, the dry density decreased by 52%, and the water absorption increased by 18.4%, meeting the compressive strength grade of MU3.5. Based on this optimal ratio, the hemp stalk core was treated with NaOH solutions of different concentrations, and the SEM images of microstructure were analyzed. After treatment with a mass fraction 4% NaOH solution, combined with 20% hemp stalk core and 7% vitrified microbeads, the compressive strength increased to 5.9 MPa, and the thermal conductivity decreased to 0.124 3 W/(m.K), achieving optimal insulation performance while maintaining compressive strength. Hemp composite materials can provide a new biomass insulation filler for protective packaging.