The invention aims at disclosing an environment-friendly high-conductivity elastic corrosion resistant copper alloy and a production method of a strip thereof. The alloy comprises, by mass percent, 1.0 to 5.0% of Sn, 0.5 to 1.5% of Mg, 0.2 to 0.5% of Ni, 0.2 to 0.5% of Si, 0.2 to 0.5% of Zn, 0.05 to 0.2% of Al, 0.05 to 0.20% of Mn, 0.05 to 0.10% of Ce, 0.005 to 0.01% of Ca, and the balance Cu and inevitable impurities, wherein the content of the impurity Fe is smaller than or equal to 0.01%, and the total amount is 100%. In the alloying element, Sn/Mg is larger than or equal to 2.5 and smaller than or equal to 5.0, (Mg+Ni)/Si is larger than or equal to 2.5 and smaller than or equal to 4.0, and Ni/(Al+Mn) is larger than or equal to 2.5 and smaller than or equal to 4.0. In the copper ally, the content of Si, Mn, Ce, and Ca is reasonably controlled, the alloy melt can be effectively purified, the casting blank grains are refined, inverse segregation is reduced, the alloy smelting casting and machining performance is good, and electric conductivity is high. In the copper ally, the ratio of (Mg+Ni)/Si and the ratio of Ni/(Al+Mn) are reasonably controlled, through combined regulation of uniform annealing, cold rolling cogging, recrystallization annealing, intermediate rolling, aging, finish rolling and stress relief annealing, the strengthening phase in alloy can be sufficiently separated out, and the alloy board with the excellent mechanical property can be obtained.