The invention discloses non-magnetic 316L stainless steel and a production method of the non-magnetic 316L stainless steel. The non-magnetic 316L stainless steel is prepared from, by weight, 0.01-0.03of C, 1.0 or less of Si, 2.0 or less of Mn, 0.045 or less of P, 0.002 or less of S, 16.5-17.50 of Cr, 13.5-14.0 of Ni, 2.5-2.7 of Mo, 0.11 or less of N, 0.001-0.003 of B and the balance Fe and otherinevitable impurity elements, Md30 is -170 DEG C--200 DEG C, and delta ferrite is smaller than 0.5%; and steel billet smelting, plate billet heating, plate billet rolling, black coil annealing and pickling, modulation calendering, cleaning and oil removal processes are carried out. The non-magnetic 316L stainless steel has the advantages that the requirements for no magnesium, machining performance and corrosion resistance are all met, harmful elements S and P are controlled, Cr oxidation is restrained, and inclusion is controlled; and annealing demagnetization is not needed, and the non-magnetic stainless steel is obtained and used for electronic product structural parts and stainless steel frames.