The invention relates to a low-temperature low-yield steel and a production method thereof, the chemical composition of which is calculated by weight percentage, including: C: 0.01-0.04, Si: 0.14-0.3, Mn: 0.3-0.5, P≤0.013, S≤0.005, Nb: 0.01‑0.035, designed with ultra-low carbon and micro-niobium alloying components to ensure low-temperature impact toughness under low-yield conditions. The production method of the hot-rolled low-temperature and low-yield steel provided is through the composition design of ultra-low carbon and niobium alloying, combined with a reasonable controlled rolling and controlled cooling process to produce low-temperature, low-yield anti-seismic steel with a thickness of 70mm, and hot-rolled The dynamic mechanical properties meet the requirements, the yield strength is less than 225MPa, the elongation reaches 40%, and the impact energy at ‑40°C is ≥250J. This method successfully solves the technical difficulties of low-temperature, low-yield steel prone to mixed crystals, narrow rolling temperature window, and low rolling force.