The invention provides a production method of aluminum-silicon-titanium alloy. The production method comprises the following steps: evenly mixing the following raw materials in parts by weight: 55-75 parts of pulverized fuel ash, 15-35 parts of carbonaceous reducing agent, 5-7 parts of binder, and 4-6 parts of water, then pressing into pellets, and drying; adding the dried pellets into an ore-smelting heating arc furnace for smelting, and controlling the temperature inside the furnace to be 1,800-1,950 DEG C; after the reaction is entirely finished, filling cold-state high-titanium blast furnace slag powder into the ore-smelting arc furnace for smelting, and controlling the temperature inside the furnace to be 1,600 DEG C-1,700 DEG C; after the reaction is completely finished, discharging from the furnace and refining in a refining furnace; filtering to remove slag, and pouring to obtain the aluminum-silicon-titanium alloy. By adopting the production method for aluminum-silicon-titanium alloy, the application difficulty of two industrial solid wastes namely high-titanium blast furnace slag and pulverized ash can be solved, beneficial elements of aluminum, silicon and the like in the pulverized ash can be comprehensively utilized while the high-titanium blast furnace slag is dug, the method is short in production flow, low in cost and higher in economic additional value, and the slag can also be used as building materials and the like.