The invention relates to a liquid crystal panel copper-molybdenum membrane etching liquid. According to the total weight, the copper-molybdenum membrane etching liquid comprises the following components in percentage by weight: 1-20 percent of hydrogen peroxide, 0.01-8 percent of a hydrogen peroxide stabilizer, a pH regulator prepared by mixing 1-8 percent of ammonia water and 1-7 percent of organic phosphinate, 0.1-12 percent of a chelating agent, 0.1-5 percent of a metal corrosion inhibitor and the balance of water. According to the copper-molybdenum membrane etching liquid, the problem of stability decomposition of hydrogen peroxide caused by factors such as PH value, heat and metal ions in the working process of the etching liquid is solved, and the hydrogen peroxide can have favorable stability under the conditions of temperature increase, metal ion content increase and the like, so that the realization of uniform etching is facilitated; during etching, the reaction rate of molybdenum metal is reduced, molybdenum and copper are etched at the same rate, and finally CD LOSS and a slope angle, which meet the process requirements of a customer, can be presented; and the copper-molybdenum membrane etching liquid contains no fluoride ions and is environment-friendly.