In this work, an innovative approach, the incorporation of microporous MgO-MgFe2O4 aggregates, is proposed to enhance thermal insulation and performances of MgO-MgAl2O4 refractories for the cement rotary kilns. The results showed that compared with conventional dense MgO-MgAl2O4 refractories, the lightweight ones obtained a 29.2% lower thermal conductivity, mainly attributing to the presence of pores and low thermal conductivity MgFe2O4 phase in the microporous aggregates. During heating, minor Mg(Fe,Al)2O4 and microcracks formed at aggregates-matrix interface in lightweight refractories. The MgO-MgFe2O4 aggregates and formed microcracks can accommodate thermal expansion and induce crack propagation along interface between the aggregates and matrix, effectively improving the thermal shock resistance. Besides, the microporous MgO-MgFe2O4 aggregates could absorb part of the liquid glass phase in the matrix and improve viscosity of the penetrated liquid glass phase, which thus obviously enhanced both clinker resistance and coating adhesion property of the specimens.