The invention discloses cold-rolled low-alloy high-strength steel for automobiles and a production method thereof, and belongs to the technical field of metal material. The high-strength steel is composed of, by weight, 0.05-0.08% of C, Si smaller than or equal to 0.05%, Mn smaller than or equal to 0.5%, P smaller than or equal to 0.025%, S smaller than or equal to 0.01%, 0.010-0.025% of Nb, 0.015-0.050% of Al, N smaller than or equal to 0.003% and the balance Fe and inevitable impurities. According to the production method, the high-strength steel low in cost and high in quality are produced through the sequential steps of blast furnace iron melting, molten iron desulphurization, converter smelting, RH vacuum treatment, continuous casting, conventional hot rolling, acid pickling and cold continuous rolling, continuous annealing, flattening and drawing-straightening. According to the steel and the production method thereof, the cost is low, addition of precious metal is reduced compared with the traditional technology, the hot rolling and coiling temperature is controlled according to thickness, and the uniformity and the stability of the mechanical property of cold-rolled sheets different in thickness specification are realized.