The invention provides a production method for ultralow-phosphorus hydroforming steel and relates to the technical field of metal material smelting. The production method sequentially comprises the steps of molten iron pretreatment, LD converter smelting, primary LF refining, slagging-off treatment, secondary LF refining, VD vacuum treatment and continuous casting. Specifically, molten iron pretreatment is carried out through a KR method; in the LD converter smelting link, peroxidation is adopted to steel tapping, the final phosphorus content is strictly controlled; in the primary LF refininglink, a slagging material is added, primary refining dephosphorization is carried out, so that the phosphorus content of molten steel reaches to 0.002%-0.003%; after the phosphorus content is qualified, slagging off is carried out; in the secondary LF refining, component adjustment is mainly carried out, and the purity degree is improved; and in VD vacuum treatment, degassing is carried out, and acasting blank is obtained through continuous casting. The HIC and SSCC performance of the ultralow-phosphorus hydroforming steel obtained through the production method can meet requirements of the related standard completely, and the chemical components of a steel plate are stable; the content of harmful chemical components of phosphorus and sulfur is low; nonmetallic inclusion is controlled well; and the quality of the casting blank is good.