The invention discloses a milk replacer for diary calves and a production method thereof, and belongs to the technical field of feed formulation. The milk replacer is prepared from soybean protein powder, corn protein powder, flour, whey powder, whey protein concentrate, whole milk powder, skim milk powder, soybean oil, palm oil, soybean lecithin, gelatinized starch, compound glucose, molasses, calcium hydrophosphate, table salt, an acidulant, vitamin and a mineral element premixing additive. The milk replacer for the diary calves which is provided for nutrition physiology and metabolism characteristics of the diary calves has balanced nutrition, can effectively promote the growth and development of the diary calves, reduce the incidence of metabolic diseases, improve production performance, has a remarkable feeding effect, and remarkably reduces feeding cost. An airflow pulverizing mill, a drum additive mixer and a twin-shaft paddle mixer are adopted to produce the milk replacer, so raw materials are uniformly mixed, the mixing variation coefficient is less than 0.5 percent, the uniformity of various nutrient ingredients in a finished product can be ensured, the milk replacer does not contain any illegal medicament and additive, and the safety of a product can be ensured.