The invention belongs to the field of rubbers, and concretely relates to an insulation sealing rubber strip for switch cabinets, and a production method thereof. The insulation sealing rubber strip comprises an inner layer and an outer layer; the inner layer is made from nitrocellulose resin, n-butyl methacrylate, cis-polybutadiene rubber, ethylene-propylene-diene monomer, bromobutyl rubber, reticular polyimide, calcium carbonate, paraffin oil, attapulgite, carbon nanofibers, stearic amide, zinc oxide, N-cyclohexyl-2-benzothiazole sulfenamide, sulfur, carbon black, white carbon black, tackifying resin, titanate, phenyl silicone oil, a plasticizer, an antioxidant and assistants; and the outer layer is made from polyimide, calcium carbonate, microcrystalline wax, the antioxidant and the assistants. The insulation sealing rubber strip has the advantages of good insulation property, good ozone resistance, good thermal ageing resistance, good low temperature resistance, good chemical corrosion resistance, good impact and water resistance, and high toughness, strength and wear resistance. The invention also provides the production method of the insulation sealing rubber strip.