The invention discloses a colorant for digital printing of polyester fabric, comprising, by weight, 60-80% of disperse red, 8-15% of disperse pink, 5-15% of a dispersing agent, 2-5% of a dye leveler,2-5% of an anti-wrinkle softener, and 1-5% of an irrigation inhibitor. The invention also discloses a production technique of the colorant, characterized by comprising the steps of (1) adding cold water into a vat; (2) adding the dye leveler and the irrigation inhibitor into the vat; (3) adjusting PH via glacial acetic acid; (4) after first heating, adding the disperse red No. 60, the disperse pink BG and the dispersing agent, and maintaining; (5) continuing to perform heating, maintaining the temperature, and performing color matching. The colorant has the advantages of good chromatic stability and bright color, high color yield, clear outline of printed patterns, good water fastness and friction fastness, and good environmental friendliness and safety.