Lime paint surpassing others in execution efficiency, anti-bacterial, anti-mold and small quantity emission of VOCs(Volatile Organic Compounds) characteristics was developed using a limestone as raw materials. The lime paint prepared by mixing slaked lime($37{sim}40;wt%$), PVA:EVA(9 wt%:1 wt%), talc(23 wt%), $TiO_2$(14 wt%), zeolite (3 wt%), antifoaming agent(5 wt%), wetting agent (5 wt%) was indicated over 99.8% of anti-bacterial and anti-mold characteristics. Also, the environment-friendly function of the lime paint was confirmed by detection of small amount of TVOCs($0.01;mg/m^2h$) and formaldehyde($0.008;mg/m^2h$). Execution efficiency, economy-and environment-friendly characteristics of this lime paint can make up for defects of established paints. And, it also presents the advantage of a limestone as high value added materials.