The invention discloses a wall panel and an installation method thereof. The wall panel comprises wall panel bodies and a backing layer, and the backing layer and the wall panel bodies are fixed in an adhesion mode. The wall panel bodies are divided into the first wall panel body, the second wall panel body roughly symmetrical with the first wall panel body, the third wall panel body and the like, wherein the first wall panel body and the second wall panel body are installed and fixed through a clamping device. The installation method includes the following steps that two adjacent wall panel bodies are selected, one wall panel body is fixed to the backing layer with gun nails through glue dispensing, an edge mortise hole is formed in the end of the wall panel body, and a connecting wane is inserted in the edge mortise hole; a groove is formed in the other wall panel body, glue is dispensed on the back side of the wall panel body, then the groove is connected with the connecting wane in a matched mode, operation is performed in the same way, and installation of the wall panel is completed. The wall panel is easy and convenient to install and low in cost.