The invention relates to a novel textile product dyeing and finishing process, which comprises: preparing a boiling-bleaching liquid, and treating a cotton knitted product, wherein a low temperature scouring-bleaching aid composition, hydrogen peroxide, caustic soda, a stabilizer and an anti-wrinkle agent into water to prepare the boiling-bleaching liquid; adjusting the pH value of the boiling-bleaching liquid to 7, taking out the bamboo cotton blended fabric, placing the bamboo cotton blended fabric and a dyeing liquid into a dyeing machine, and carrying out slow color fixing; adding a cleaning liquid into the dyeing machine, and washing for 25-30 min at a temperature of 55-70 DEG C, wherein the cleaning liquid contains 5-7 g / L of sodium dithionite and 1.5-3 g / L of caustic soda; and placing the cleaned and reduced bamboo cotton blended fabric into a glacial acetic acid bath, heating to a temperature of 60-65 DEG C, carrying out thermal insulation for 10-15 min, completely neutralizing the residual alkali on the cloth surface, discharging the water, adjusting the PH value to 7-8, adding water, adding soaping enzyme at a room temperature, heating to a temperature of 85-90 DEG C, carrying out thermal insulation for 10-15 min, discharging the liquid, adding water, and carrying out water washing at a room temperature. According to the present invention, with the process, the produced fabric has characteristics of flat surface, uniform color, and high color fastness.