The invention discloses thin-gauge alloy steel and a production method thereof, and relates to the technical field of steel production, and the thin-gauge alloy steel comprises the following chemical components in percentage by mass: less than or equal to 0.20% of C, 0.10-0.50% of Si, 0.30-2.00% of Mn, less than or equal to 0.025% of P, less than or equal to 0.020% of S, less than or equal to 0.11% of Nb, less than or equal to 0.20% of V, 0.006-0.020% of Ti, less than or equal to 1.00% of Cr, less than or equal to 0.80% of Ni, less than or equal to 0.30% of Mo, less than or equal to 0.80% of Cu, 0.015-0.060% of Al, less than or equal to 0.0040% of B and the balance of Fe and inevitable impurities. According to the characteristics of the thin-gauge low-carbon alloy steel, the composite rolling technology is developed, low-temperature rolling is achieved, the product toughness is improved, and meanwhile the product yield is greatly increased.