The invention relates to a low-aluminum silicon-barium-calcium alloy and a production process thereof, relating to the field of steel-making deoxidizing agents. At present, silicon-barium alloy, silicon-calcium alloy and ferrosilicon alloy are commonly and respectively added during steel making. As a result, high-content of impurities such as sulfur, phosphorus, and the like exists in a steel material, and the aluminum content is also over 2 percent, so that the quality of the steel material is severely affected; besides, the production cost is high, the process is complex, and the labor intensity is great. The invention adopts a compound refining method to produce the low-aluminum silicon-barium-calcium alloy, comprising the steps of adding and melting scrap iron, melting the silicon-barium alloy till ebullition, adding silicon-calcium alloy, adding dealuminzation powder, keeping the ebullition for 10-20 min, and finally casting and forming to obtain a finished deoxidizing agent. The invention has the advantages of low content of harmful elements, few impurities, capability of meeting the requirements on special good-quality steel materials, low cost, simple process and low construction investment.