The invention discloses a steel plate having a thickness of 150 mm, a low compression ratio and a low Z-direction performance, and a production method thereof. The steel plate comprises, by mass, 0.12-0.17% of C, 1.25-1.70% of Mn, 0.002-0.009% of S, 0.008-0.020% of P, 0.30-0.41% of Si, 0.032-0.042% of Als, 0.038-0.045% of Nb, 0.015-0.030% of Ti, 0.0030-0.0050% of N, and the balance of Fe and otherinevitable impurities. The production method comprises the following steps: smelting, continuous casting, heating, controlled rolling and controlled cooling. The rolling compression ratio of the produced steel plate is 1.77-1.80, the production method has the advantages of low production cost and fast production pace, and the steel plate has the characteristics of high flaw detection qualified rate, excellent mechanical properties and high performance uniformity of the microstructure in a thickness direction.