Insulation property and frost resistance have an important impact on measuring the durability of functional integrated materials and improving green energy conservation and emission reduction. Using orthogonal test, expanded polystyrene (EPS) content, water-binder ratio, polyoxymethylene (POM) fiber content were used as the influencing factors, and the mechanical properties, insulation property and frost resistance of EPS lightweight concrete were tested. The test results were analyzed to obtain the EPS lightweight concrete foundation mix ratio with the best comprehensive performance by range analysis and AHP-CRITIC hybrid weighting analysis. The results show that EPS content has the greatest influence on the mechanical properties of EPS lightweight concrete, POM fiber can significantly increase the tensile strength of EPS lightweight concrete, and water-binder ratio has the least influence on the mechanical properties of EPS lightweight concrete. When the volume fraction of EPS is 35%, the mass fraction of POM fiber is 0.9%, and the water-binder ratio is 0.21, the mechanical properties of EPS lightweight concrete are the best. Under freeze-thaw cycles, the freeze-thaw damage of EPS lightweight concrete satisfies two-parameter Weibull distribution model, which can better reflect the change rule of freeze-thaw damage.