The invention particularly relates to a vanadium-titanium gray cast iron and a production technique thereof. The vanadium-titanium gray cast iron contains 3.2-3.6% of C, 1.6-1.9% of Si, 0.7-0.9% of Mn, 0-0.10% of P, 0.07-0.12% of S, 0.15-0.20% of V, 0.07-0.12% of Ti, 0.25-0.35% of Cr, and the balance of Fe and other minor elements and inevitable impurities. The vanadium-titanium gray cast iron has the advantages of high tensile strength, favorable heat resistance and favorable wear resistance; and the type-A graphite content in the metallurgical structure is higher than 85%, the graphite length is Grade 3-5, the pearlite content in the matrix structure is greater than or equal to 98%, and the total content of carbides and iron phosphide eutectic is less than or equal to 2%.Late inoculation treatment is adopted to enhance the inoculation effect, improve the graphite form, eliminate the carbides and ferrite and increase the pearlite content. By using cheap vanadium-titanium pig iron as the raw material and avoiding adding noble alloys, the vanadium-titanium gray cast iron has the advantages of low cost and high performance.