The invention discloses an assembled external wall panel for a CF autoclaved porcelain powder aerated concrete shear wall and a manufacture method thereof, and belongs to the field of construction engineering. The external wall panel comprises a plurality of wall panel bodies, wherein each wall panel body comprises an inner vane board and an outer vane board, each outer vane board is a CF autoclaved porcelain powder aerated concrete panel, and each inner vane board is a reinforced concrete shear wall panel; horizontal reinforcing steel bars are arranged in the horizontal direction of each inner vane board, and vertical reinforcing steel bars are arranged in the vertical direction of each inner vane board; a reinforcing steel bar connecting sleeve is respectively in the inner vane board ofthe lower part of each vertical reinforcing steel bar; a slurry outlet and a grouting hole are respectively formed in upper and lower parts of each reinforcing steel bar connecting sleeve; horizontalseams among the wall panel bodies are rabbets while vertical seams are flat seams; waterproof devices are respectively arranged in the horizontal seams and the vertical seams of each outer vane board;the horizontal seams and the reinforcing steel bar sleeves of each inner vane board are filled with slurry; and vertical connecting parts are arranged in the vertical seams of each inner vane board.The assembled external wall panel has the characteristics of excellent insulating performance, good waterproofing property and durability and the like.