The invention relates to low temperature resistant microalloyed steel. The chemical components of the microalloyed steel comprise, by weight, 0.075%-0.1% of C, 0.10%-0.30% of Si, 1.0%-1.40% of Mn, 0.25%-0.50% of Cr, 0.020%-0.030% of Nb, 0.015%-0.025% of Ti, less than or equal to 0.015% of Al, less than or equal to 0.010% of P, less than or equal to 0.010% of S, the balance Fe and unavoidable impurity elements. The unavoidable impurity elements comprise the gas content and other unavoidable impurity elements, wherein the gas content comprises less than or equal to 2.0 ppm of molten steel [H], less than or equal to 2 ppm of a casting blank [H], less than or equal to 30 ppm of [O] and less than or equal to 50 ppm of [N]; and the other unavoidable impurity elements account for less than or equal to 1%. Meanwhile, the invention further relates to a production technology of the low temperature resistant microalloyed steel. Through a Nb+Ti microalloyed technology, growth of austenite grains is effectively controlled in the heating process of steel rolling, a ferrite-pearlite ultra-fine grain structure is obtained finally, the grain size reaches above the 10th level, and the technical requirements for indexed such as low temperature are met. The yield strength of the microalloyed steel is higher than 355MPa, the tensile strength is higher than 550MPa, -60 DEG C low temperature impact Ak is higher than 27J, and the elongation after breaking is higher than 22%.