The present invention discloses an ultrathin palladium plating and gold plating process for a lead wire frame. The process comprises the following steps: carrying out electrolysis degreasing, carrying out an activation treatment on a lead wire frame substrate, carrying out electrodeposition of a nickel plating layer, carrying out an activation treatment on the nickel layer, carrying out electrodeposition of a palladium plating thin layer, and carrying out high-frequency pulse electrodeposition of a gold plating thin layer, wherein a palladium-plated lead wire frame substrate is placed into a gold plating liquid to carry out electrodeposition for 10-20 s, cleaned with gold recovery water, dried and is subjected to gold protection to obtain the finished product. According to the present invention, under the premise of ensurence of passing of the test trial, the ultrathin gold-palladium plating layer is formed, wherein a thickness of the electroplated palladium layer is 0.02-0.1 mum, and is far lower than a thickness of 2-5 mum of the electroplated palladium layer in the existing process, and the electroplated gold layer is 0.003-0.01 mum, and is far lower than a thickness of 0.3-1.2 mum of the electroplated gold layer in the existing process, such that excellent performances of the original palladium plating layer and the original gold plating layer are ensured, gold consumption and palladium consumption are reduced, use of noble metals is substantially reduced, metal utilization rate is effectively improved, and cost is saved.