The invention relates to a medical cold compress bandage and a production method thereof. The medical cold compress bandage consists of a cold compress agent and a fabric for carrying the cold compress agent, wherein the cold compress agent consists of borneol, camphor, menthol and derivatives of menthol, N,2,3-trimethyl-2-isopropyl butyrylamide, plant essential oil, glycerol, ethanol, a thickening agent, a solubilizing agent and a preservative. The medical cold compress bandage provided by the invention is preserved at normal temperature, is convenient to carry and convenient and safe to use, and can last for more than 2 hours at once cold compress; the medical cold compress bandage provided by the invention has the functions of pressurizing, binding and fixation, has a good effect on detumescence, pain relieving and hemostasis in cold compress 48 hours before surgery of noninvasive acute injury and closed fracture, and the pain relieving effect is superior to that of an ice bag.