The present invention relates to a HRB500 and HRB500E coiled reinforcing steel bar production process, which comprises the following process: A, heating a steel billet, wherein three-stage type heating is adopted, the steel billet adopts V or VN microalloying, a size is 150 mm*150 mm, a temperature of a first-stage heating segment of the steel billet heating process is 800-950 DEG C, a temperature of a second-stage heating segment is 950-1100 DEG C, and a soaking segment temperature is 1050-1150 DEG C; B, carrying out temperature control rolling, wherein a rolling starting temperature is 950-1050 DEG C, a finish rolling starting temperature is controlled to 850-930 DEG C, and a final rolling speed is controlled to 27-100 m/s; C, carrying out temperature control cooling, wherein a laying temperature is controlled to 820-870 DEG C, a cooling fan is opened to carry out rapid cooling, a cooling rate is controlled to 8-25 DEG C/sec, a final cooling temperature is controlled to 650-680 DEG C, and natural cooling or slow cooling is performed; D, collecting the coiled material; E, inspecting; and F, packaging. The process has characteristics of controllable process, low production cost, and high production efficiency, wherein yield strengths of the produced HRB500 and HRB500E coiled reinforcing steel bars are more than or equal to 500 MPa, tensile strengths are more than or equal to 630 MPa, yield strength ratios are more than or equal to 1.25, elongation rates are more than or equal to 15%, the total elongation rates under the maximum force are more than or equal to 9.0%, performance indexes are excellent, and the produced HRB500 and HRB500E coiled reinforcing steel bars are uniform and stable.