In this paper waste expanded polystyrene (EPS) granulated in various proportions was added to cement and lime paste and samples were produced in order to provide heat and voice insulation and produce low-intensity concrete. Styropor, which is especially obtained as waste material in packaging industry, is used in production of samples; the purpose here was to prevent environmental pollution and produce construction material with variable cost. Hot wire method was used for measuring the thermal conductivity of the sample. A mould with the dimensions of 20 × 60 × 150 mm was prepared for thermal experiments and 100 × 100 × 100 mm was prepared for mechanical experiments and the mortars were cast. The samples were subjected to thermal conductivity, pressure and tensile strength and water absorption tests. The diameter of the EPS ranged from 0 to 6 mm and concrete involvement rate was determined as to be 0 to 70 percentages. As a result, it has been found out that in EPS-containing cement and lime binding-agent materials can be used for the following purposes: (i) production of earthquake-proof low-intensity concrete, (ii) as insulation-purpose construction material, (iii) decoration.