The invention discloses a long-life iron runner castable and a production method thereof. The long-life iron runner castable comprises the following components: 900-1100 parts of fused corundum, 260-500 parts of silicon carbide micro-powder, 90-100 parts of alumina micro-powder, 100-110 parts of tabular corundum micro-powder, 60-80 parts of aluminate cement, 2-4 parts of aluminum metal powder, 2-6 parts of an efficient water reducer and 60-80 parts of a carbon source. The production method comprises the steps of firstly, mixing and stirring the alumina micro-powder, the tabular corundum micro-powder, silicon metal powder, the aluminum metal powder, the efficient water reducer and silica fume for 20-30 minutes to produce a premix; and then mixing and stirring the premix, the fused corundum, the silicon carbide micro-powder, the aluminate cement and ball pitch for 8-12 minutes to produce the iron runner castable used for a blast furnace. The long-life iron runner castable has the advantages that the thermal conductivity is low, the explosion-proof performance is excellent, and the service life is long.