The invention relates to a pressure-resistant and tensile PE pipe and a production method thereof. A medium-molecular weight high-density polyethylene is used as a polymer matrix, direct swelling graft copolymerization with a small molecule or a mixed monomer under the action of an initiator is carried out, the monomer is one or more of ethyl methacrylate, 4-isopropylphenylacetic acid, isopropyl methacrylate, and 1,4-diacetoxybutane, an auxiliary agent comprises one or more of an antioxidant, a light stabilizer, and a variable valence metal ion inhibitor, and a single-phase stable radical is formed. The PE pipe is extruded from a machine head by pre-plasticization compression, pipe demoulding pre-shaping is promoted by hot-dip galvanizing, vacuum sizing and cooling shaping are performed, and then traction cutting is performed, wear resistance and machining performance of the PE pipe are ensured, pressure-resistant and tensile properties are improved, environmental stress cracking is avoided, and the PE pipe is suitable of various drainage and pollution discharge, mining and gas pipelines.