The invention relates to a production method of a tubular target material, which uses powder compaction equipment. The powder compaction equipment comprises a bottom plate, a workbench, a fixing device and a compaction device. The specific process of the method for producing the tubular target material by adopting the powder compaction equipment is as follows: powder weighing, powder filling, compression preforming, demolding, heat treatment and machining. The compaction device comprises supporting rods, a top plate, a driving motor, a driving cam, transverse moving blocks, lifting blocks, pressing rings, internal compaction frames, a fixing column and external compaction frames. According to the technical scheme, a plurality of tubular moulds are fixed through a material placing device, then compaction operation is respectively carried out from the upper parts, the inner parts and the outer parts of the moulds through the compaction device, so that the compaction efficiency is obviously improved, meanwhile, the tubular moulds can be driven to rotate in the compaction process, so that the contact range of the compaction device and the tubular moulds can be enlarged, and the compaction effect is improved.