The invention discloses protective steel and a production method thereof. The protective steel is prepared from the following components in percentage by mass: 0.10-0.20% of C, 0.10-0.60% of Si, 0.8-1.65% of Mn, 0.02-0.05% of Nb, 0.3-0.8% of Mo, 0.05-0.15% of V, 0.01-0.05% of Ti, 0.01-0.06% of Al, 0.4-1.0% of Cr, 0.0015-0.0025% of B, no more than 0.02% of P, no more than 0.01% of S, no more than 0.008% of N, and the balance of Fe and unavoidable impurities. The problems that in the prior art, high-content C and high-content Mn are added into protective steel, Pcm is designed to be excessivelyhigh, consequently welding performance is lowered, and welding cold cracks and weld joint fatigue cracking are caused are solved, the technical problems of poor cold forming performance and poor low-temperature impact toughness are solved, and the technical effects that the protective steel has good cold forming performance and good low-temperature impact toughness, and safety performance of protected products is improved are achieved.