The invention discloses a parallel stream heat exchanger integrated with a microchannel and an outer fin, comprising a left collector tube, a right collector tube, an upper cover board, a lower coverboard, a cooling fin set, an air inlet pipe and a liquid outlet pipe; the cooling fin is integrated with a fin and aluminium profile, a microchannel is arranged on the aluminium profile, and the diameter or edge distance of the microchannel is 0.5-3mm; the microchannel of the cooling fin is communicated with the left collector tube and the right collector tube, distance pieces which are arrayed ina staggering way are arranged in the middle of the left and right collector tubes at interval, the left and right collector tubes are divided into a plurality of areas, the air inlet pipe and the liquid outlet pipe and the left and right collector tubes are connected by welding, and the upper cover board and the lower cover board are respectively connected with the left and right collector tubes;by utilizing the microchannel technology, integral outer fin technology and collector tube technology, the invention effectively solves the problem of thermal contact resistance of sheets and the fins; the structure is compact, heat exchanging efficiency is high, the volume is small, the quality is light, the processing is simple, and the heat exchanger adopts all aluminium composite material, thereby greatly reducing the cost.